Strides Consumer Private Limited (SCPL), a Bengalurubased consumer healthcare firm, Wednesday announced the launch of two products.
The products are NIXIT, an oral Nicotine Replacement Therapy (NRT), and JOINTFLEX, a topical analgesic cream for joint care.
Currently, SCPL is present in Karnataka, Andhra Pradesh, Telangana and Tamil Nadu and has distribution set up in Bengaluru, Hyderabad and Chennai.
It plans to further strengthen its position in southern markets by covering 50 towns with widened distribution network focused on pharmacies, SCPL CEO Subodh Marwah told reporters.
At present, the NRT market is pegged at Rs 156 crore and projected to reach Rs 600 crore by 2023.
It is largely led by chewing gum format while SCPLs NIXIT has introduced the Lozenge format in India, company officials said.
According to company officials, JOINTFLEX has been in the US for over 20 years besides 15 other countries.
In India, it comes with an ayurvedic formulation, they added.
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