British Bio ties up with Finnish firm

British Biologicals, Rs 100 crore Bangalore-based nutraceutical company, has partnered Finland's Raisio Group to sell nutrition supplements in Nordic countries (Denmark, Finland, Iceland, Norway and Sweden).

According to V S Reddy, Managing Director, British Biologicals, "The agreement with Rasio is a two-way deal where in Raisio will sell our products in Nordic countries and in turn we get to manufacture and sell their cholesterol reducing drugs for the Indian market."

"A similar deal is also being worked out for the Russian market where we have shortlisted two players and we expect to launch a few products sometime in March 2008," he added.

British Biologicals through its protein supplements like B-protin, D protin, Pulmoplus, Meno-Pro and Medislim has a presence in 14 countries and direct presence in some countries in Africa, West Asia and Cambodia.

"We also sell our products in the UK market through Boots' pharmacy chain and are exploring entering the US market through an acquisition of a small or medium size pharmacy chain having a presence in a few states," said Reddy.

Without naming the companies, he said, "We have narrowed down to two companies in the US' New Jersey area and will be pursuing it after January."

The company, set up 1988, has been developing condition-specific, disease specific nutrition supplements for general nutrition, diabetes, pregnancy and lactation, respiratory disorders, menopause and hepatic dysfunction.

"The present market size of protein through the ethical route is Rs 500 crore. We have a 22 per cent to 23 per cent share," said V Sridhar, Executive Director, British Biologicals.

British Biologicals plans to close this year with a Rs 125 crore topline on the back of growth in the nutraceuticals market in India and a few market opportunities in Europe and Russia.

The company, since its inception in 1988, has had two manufacturing facilities in Bangalore. The first unit was commissioned in 1988 and the second in 2001 and now to meet the growing demand in the international markets, it is setting up an USFDA compliant plant in Nigeria.

"The facility is to exploit both the African and European markets. So far we have invested $8 million to build a plant in Nigeria and this is expected to commence production some time late-2008," said Sridhar.