Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101501101900.htm

Back Oushadhi(Ker) plans two new products

Our Bureau

Thiruvananthapuram , Oct. 14

THE Pharmaceutical Corporation (Indian Medicines) Kerala Ltd (Oushadhi) will shortly launch two new ayurvedic products.

Speaking to newspersons, its Chairman, Mr Mathew Stephen, said that the products would be launched on October 18 during the inauguration of the company's Panchakarma hospital and research centre in Thrissur. The products - a pain balm and a cough syrup - are the outcome of over three years of in-house research, he added.

As part of its efforts to expand the product portfolio, the company plans to introduce four new ayurvedic products over the next two years, he said.

The R&D team is already working on these products, Mr Stephen added. The Panchakarma hospital and research institute will offer a range of ayurvedic therapies. The hospital can accommodate 20 patients at a time.

Given the increasing interest in ayurveda, especially among foreign tourists, the company is examining the possibility of starting ayurvedic treatment centres targeted at tourists. With the growing demand for ayurvedic medicines, farmers in the State can earn more if they start cultivating plants that are used in ayurveda, Mr Stephen said.

And in an effort to persuade farmers in Kerala to start growing such plants, the company has started two nurseries - one each in Thrissur and Kannur - that supply them with medicinal plants. This scheme will eventually be extended to other parts of the State, Mr Stephen said.

The company has also started cultivating medicinal plants on a 100-acre farm in Kannur and also on the premises of its factory in Thrissur.

The State-owned company, which clocked profits of Rs 81.79 lakh in 2003-04, is also in the process of expanding its presence in other parts of the country. It recently established a distribution system in several cities including Bangalore, Chennai, Mumbai, New Delhi and Raipur.