“We have a good policy but it needs to be implemented and followed”

Avesthagen, a Bangalore-based life sciences company specialized in the discovery, development and marketing of quality ingredients aimed at degenerative conditions that combine nature, tradition and technology, is restructuring its business by splitting it into four separate firms, which will be involved in pharmaceuticals, nutrition and agricultural products besides research spawning all the three areas. Avesthagen has established a wide network of access to sources of traditional Indian medicine that is used as a basis for the discovery and development of novel health ingredients. Avesthagen has developed multiple scientifically validated ingredients and products to promote wellness through prevention of specific degenerative conditions – diabetes, obesity, metabolic syndrome, and bone loss, each of the diseases has a large market both for treatment and prevention. In an interaction Dr. Villoo Morawala-Patell, Chairman and Managing Director, Avesthagen gives her views on the current status of nutraceuticals market in India. Excerpts.


According to you, what is the current nutraceuticals market in India? What is the percentage growth rate over last year?

While there has been significant recognition that Nutraceuticals is an important market that potentially exists in the country, we are still groping in the dark as a good science driven product is yet to hit the market. There are a number of large and small players. And there are the MNCs. I think there has been significant growth over the last few years and it is still the tip of the iceberg.

What are major challenges before nutraceutcials industry?

Financing, Position and Communicating the convergence of Food and Pharma, Regulatory, Non-transparency, too many exaggerated claims etc.

How do you see the regulatory system for nutraceuticals industry in India and its impact on the industry?

We have a good policy but it needs to be implemented and followed. We will deliver good and well priced quality products to the public.

 

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