Hyderabad: Hyderabad-based Genomelabs Bio, a nutraceuticals company, which makes innovative products as well as markets products of global nutraceutical companies in India, is setting up two new facilities, one each in Hyderabad and Visakhapatnam. The company plans to invest Rs 200 crore in the next one year. It is also planning to tap export markets across South Asia.
Of the total investment, the company will invest Rs 100 crore in setting up the manufacturing facility in Hyderabad, Rs 50 crore facility in Visakhapatnam and another Rs 50 crore will be invested in research and development and marketing of products. Hyderabad facility alone could create a turnover of Rs 1,000 crore, once fully operational.
Sharing the expansion plans, Ashok Kumar Desu, ED, Genomelabs Bio, told Telangana Today, “We are creating manufacturing plants of international standards in a nine-acre land at Turkapally close to the existing R&D facility and a three-acre land parcel in Visakhapatnam (Andhra Pradesh Medtech Zone). We will be creating a 2 lakh sq ft facility in Hyderabad in two phases and subsequently the facility will come up in Visakhapatnam. The new units will surely improve our logistics capabilities.”
“Once we receive the government nod for these facilities, we may take 9-12 months to complete the construction of manufacturing units. In Hyderabad, we will work on innovative products. We will work on a range of formulations-capsules, powder, granules, liquids, bars and other formats. In Visakhapatnam, we want to develop products through collaborations with foreign companies from Korea, Hungary and New Zealand. We are importing some raw material from them. We intend to carry out contract research and contract manufacturing here. We may create warehouses in north and western parts of India,” he added.
The company operates a R&D facility in Genome Valley where it invented several products. The company has so far developed 25 products since 2015 and another 25 products are expected to be developed in the next six months and 50 more in a year from then. It has partnered with pharma companies such as Glenmark to market its products. It has recently launched an ecommerce portal fitday.in to market its products online.
He added, “We currently have products in five categories- honey, ginseng, seed, oil and whey protein. We are importing honey from Hungary and New Zealand for our product ‘Floney’, while Ginseng extract comes from Korea for ‘Ginst’. We are also collaborating with the Department of Biotechnology and several research institutions in India and globally to develop new products.”
“We want to have a full-range of wellness products and also plan to open wellness stores to sell them under the brand ‘Fitday’. We want to have at least 40 of our own products and 60 imported products in our basket of offerings at the proposed wellness stores. We are going to open our first store in Sarath City Capital Mall in three months from now and subsequently come out with more stores. We will also explore the franchisee model,” he informed.
The company will also foray into medical nutrition in the next two months that will suit for patients needing certain nutrition intake in pre and post-operative scenario.