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Strides Consumer launches joint pain relief, nicotine replacement products

The two products are being produced at a third-party unit owned by Strides Pharma group; firm is currently building a distributor network across 50 cities in the south

BS Reporter  |  Hyderabad 

Strong triggers for Strides Shasun

Private Limited (SCPL), a new entrant in the Rs 27,000-crore Indian consumer healthcare product market, on Wednesday formally announced the launch of two maiden products -- Nixit for oral replacement therapy (NRT) and Jointflex cream for joint pain relief and management in the southern market.

is owned by InvAscent-backed Indian Life Sciences Fund and Science Ltd (formerly Strides Shasun) with 74 per cent and 26 per cent shareholding in the company, respectively. It aims to offer high quality, differentiated products in consumer healthcare, based on best of global products with Indian customisation.

Stating that the two products were well received by the consumers in all south Indian metros following the soft launch last year, chief executive officer, Subodh Marwah, said the firm is currently in the process of building a distributor network across 50 cities in the five southern states this year.

According to Strides Consumer, Nixit is a first-of-its-kind oral that would compete with patches available in the domestic market, while the topical analgesic cream Jointflex, which consists of Glucosamine and Chondraitin Sulpate compounds, is available for the first time in India. The two products are being produced at a third-party facility owned by group.

The market is pegged at Rs 156 crore and is expected to reach Rs 600 crore by 2023, while the market for relief creams is expected to reach Rs 5,000 crore from the present Rs 3,000 crore in the next five years.

Refusing to share the details of the pipeline of products to be launched by the company, Marwah said the firm was currently focused only on the these two products, though it did not have any immediate sales targets. The consumer health care sector in India is expected to grow two-fold by 2024, he added.

First Published: Wed, February 13 2019. 16:20 IST