Emami group companies form JV with Germany's Hevert-Arzneimittel

M Bhattacharya & Co Pvt Ltd along with King & Company (Homoeo Chemist) Pvt Ltd, which are Emami Group Companies engaged in the business of homeopathy medicines, have entered into the strategic technical joint venture with German homoeopathic giant Hevert-Arzneimittel GmbH & Co KG. The JV will focus on the area of distribution & marketing, GMP consultancy and licence for manufacturing select revert formulations in India. This is the first footprint of the German company in India and it has an eye on the South -Asian market for future prospects.
 
M Bhattacharya & Co, which was acquired by Emami in 2009, will now distribute six products of Hevert-Arzneimittel across the country through 400 retail outlets across the distribution channel. The current market size for homeopathy in India is close to Rs 1,500 crore and has an annual growth rate of 25 percent. But a majority of the market is unorganised, hence Emami through its robust distribution network can gain a larger share of the market.
 
Mathias Hevert, managing director, Hevert-Arzneimittel, said, “The products which are targeted at the premium segment will be priced in the range of allopathy medicine in the Indian market. In the growing middle class in India which demands side-effect free medicine and can afford the premium medicines, there is a market for the homeopathic pharma segment.”
 
FOR COMPLETE REPORT READ: Emami eyes big share in homeopathy segment