New Delhi, Feb 12: The Rs 150-crore plastic-product firm, Sintex Industries, has entered the pharmaceutical business. As part of its diversification plan, the company has set up a Rs 4-crore plant at Kalol in Gujarat for manufacturing homeopathic medicines.Sintex will finance the new project from internal accruals. The working capital requirements are being generated by the company, which has entered this segment as part of its strategy to address the alternative medicines market in the country.
A company spokesperson said, "We have opted for this business as rising healthcare costs are leading to greater emphasis on cheaper treatment methods. The products have already been launched in Mumbai and Gujarat, the largest market for homeopathic medicines in the country".
Sintex plans to launch these medicines in the other markets including Delhi in the near future, he added. Sintex is marketing an entire range of medicines under the brand name of `Healwell.' It has come up with a range of medicines inpotencies of up to 30 in the form of user-friendly kits to cure atleast 61 ailments.
The company plans to introduce a house-hold kit consisting of 24 medicines besides a travel kit of 6 medicines. It also plans to launch an injury kit consisting of 12 medicines. In an effort to leverage on its strong brand image, the company is distributing booklets about homeopathy. The company plans to increase its involvement in the alternative healthcare sector by addressing other related segments in the near future. The medicines are primarily meant for the treatment of all common ailments like cold, cough, headache and acidity.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
