Boiron Laboratories, the Indian subsidiary of homeopathic medicines maker Boiron S.A. (France), is expanding its presence in the country and is in the process of registering its proprietary products, an official said here on Thursday.
"We had launched 480 medicines in July, 2017 and recently expanded our range introducing 150 high potency standardised homeopathic medicines in India. This expansion process will continue. We are in the process of registering our proprietary products," company's Managing Director Prashant Surana told reporters here.
The company is keen on introducing more brands in India, however, the main challenge is that "currently the branding of single-ingredient products is not allowed".
"This prevents Boiron from introducing many of the global brands such as Oscillococcinum, which is the bestselling homeopathy brand for cold and flu management around the world," he said.
"All the ailments can be covered but we will set our launching priorities based upon market needs with innovative dispensing forms," he said.
According to him, the market size for homeopathy medicines in India is currently over Rs 1,000 crore, which has been growing by 15-20 per cent annually.
For the first time, medicines from USFDA approved homeopathy manufacturing plants are available in sealed multidose tubes and single dosage tubes across India, the company claimed.
The homeopathy major is currently importing drugs from France and will evaluate setting up a plant in India as the market develops.
"At one point in time, local manufacturing will become a necessity and be beneficial for our overall development in India. This could be our first major investment, others could follow thereafter. We have good reasons to believe this could happen in the near future," said Michele Boiron, Director, Boiron France.
The homeopathy major has five production facilities, 20 distribution platforms and presence in 50 countries.
--IANS
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