Strides Consumer enters east India market with two uniquely formulated products
Kolkata/IBNS: Bangalore based consumer healthcare company Strides Consumer Private Limited (SCPL) Thursday announced entry into the eastern market of India after successful expansion in southern regions.
With its entry, SCPL has launched two distinct products -Nixit, an oral Nicotine Replacement Therapy (NRT) and Jointflex, a topical analgesic cream for joint care.
At present, the NRT market is pegged at Rs 156 crore and projected to reach Rs 450 crore by 2023.
NIXIT has been priced at Rs. 49 for 2 mg gum and Rs 55 for 4 mg gum.
Jointflex, a topical analgesic cream, has been exclusively designed to address the joint pain segment and is a complete joint care product, claims the company.
Jointflex has been a preferred brand in the US for over 20 years now and also helping consumers in 15 other countries. In India, it comes as an ayurvedic formulation.
Speaking at the launch, Mr. Subodh Marwah, CEO, Strides Consumer Private Limited said, "Today, the consumer healthcare sector in India, which is valued at USD 3 billion and poised to witness a twofold growth by 2024. In such a scenario, it is imperative for any brand to deliver a proven solution in order to achieve high customer confidence. Our products NIXIT and JOINTFLEX are based on advanced formulations with extensive research to ensure we cater to the requirements of every consumer.”
Currently, SCPL is present in five southern states- Karnataka, Andhra Pradesh, Telangana, Tamil Nadu and Kerala and has a wide distribution network covering 50 plus towns.
It has opted in for similar distribution set up for eastern markets, including West Bengal, Madhya Pradesh, Chattisgarh,Odisha, Assam etc.
SCPL has two marquee investors India Life Sciences Fund with 74 per cent holdings and Strides Pharma Science Ltd (a listed company) with 26 per cent.
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