HindBio to foray into Russia with strategic tie-up

Hindustan Biosynth Ltd (HindBio) will soon foray into the Russian market through a strategic tie-up with Dave Soman Association, a Russian company, for the distribution and promotion of its nutraceutical and herbal range of products.

Talking to Business Standard , K S Chhabra, managing director of HindBio, said, "We are launching our nutraceutical and herbal range of medicinal products in Russia within the next six months."

The company's nutraceuticals and herbal medicinal products are for diseases related to lifestyle disease segment, diabetes, cardiovascular, insomnia, lever, constipation and erectile dysfunction.

"The agreement with our Russian counterpart has been decided in-principle and is expected to be inked in the next 45 days," said Chhabra.

The company will initially launch its nutraceuticals and herbal products in Russia. Later, it will launch the products in a phase-wise manner in Belarus, Kazakhstan and other CIS countries.

"After covering the Russia and CIS countries, our next target will be African and Latin American countries," said Chhabra.

With the patients the world over shifting towards alternative medicine, the company is focusing on increasing its nutraceutical and herbal product range and foraying into new territories.

Hindustan Biosynth is part of the Hindustan Group of Companies with the other two companies being Health & Hygiene Products (India) Ltd and Excel Greaves (India) Ltd, which are emerging corporates in the pharma sector.