HindBio to foray into Canada

Hindustan Biosynth Ltd (HindBio), a Vadodara-based pharma company, is in talks with a major Canadian pharma company for a joint venture to market its herbal and nutraceuticals in the Canadian market.

K S Chhabra, Managing Director of HindBio, told Business Standard, "We are in talks with a strong pharma company in Canada for a joint venture to market our herbal and nutraceutical products in Canadian market."

The company is eyeing the launch of its range of herbal and nutraceuticals products in the Canadian market.

Talks with the Canadian firm is on and the company expects to conclude the dialogue soon to form a JV. However, Chhabra declined to divulge further information on the JV talks at this point.

The company expects to make way into the highly-regulated Canadian pharma market by the end of the year. "Our herbal and nutraceuticals will be marketed as dietary supplement in the Canadian market," adds Chhabra.

Canada being a highly-regulated pharma market, the company is making its considering the dietary supplement route as the regulation under the dietary supplement laws are not as stringent as in the case of pharmaceutical drugs.

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

As the alternative medicines are gaining ground in the West, the company is focusing on increasing its nutraceutical and herbal product range and foraying into new territories.

Recently, HindBio forayed 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.

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