Bajaj Healthcare gallops on launching new product

Bajaj Healthcare (BHL) rose 4.50% to Rs 390.30 after the company announced that it has launched Magnesium L-Threonate in nutraceutical segment.

Magnesium L- Threonate is a nutritional supplement used to normalize magnesium level in the body. It helps to improve memory, muscle and nerve function and also aids in brain development by reversing the brain aging. It is used to control, prevent and normalize the symptoms associated with Alzheimer's disease, Attention disorder, Bipolar disorder, Parkinson's disease etc.

BHL will launch Magnesium L-Threonate capsules in 500 mg strength. The company said the addressable market size is approximately Rs 150 crore.

Anil Jain, joint managing director, Bajaj Healthcare said: "BHL intend to produce 12-15 tons of Magnesium L-Threonate in Q4 FY22 and 120 tons in FY23. We are expecting notable sales coming from the product. Addition of this new product in our existing product portfolio will further fuel the growth strategy for our formulation business. Addition of Magnesium L-Threonate in our existing portfolio will further fuel the growth of our business and strengthen our position in the market."

Bajaj Healthcare a leading manufacturer of APIs, Intermediates and Formulations established in the year 1993. It specializes in manufacturing of Intermediates, API, formulations & Nutraceuticals. The company has manufacturing facilities, of which 6 units are dedicated to APIs, 2 unit to Intermediates and 1 unit for formulation. These facilities are designed to meet the requirements of both advanced as well as emerging market opportunities. BHL has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.

Bajaj Healthcare's net profit dropped 34% to Rs 17.45 crore on 6% decline in net sales to Rs 167.57 crore in Q3 FY22 over Q3 FY21. Revenues from operations slipped on account of a drop in the sales volume of ascorbic acid (Vitamin C) & CH base.

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