4:54 AM
Leo Group India
The Hyderabad based ‘Cheminnova’ an Indian pharmaceutical contract manufacturer, entered into equity based Joint Venture with Rapid Nutrition, one of the leading nutraceutical company in Australia.
With this new venture Cheminnova will gain a significant stake in exchange for the intellectual property rights for RNL’s product range for some markets and the manufacturing rights for the products worldwide.
Established by the late Dr M Seshgiri Rao in 2001, Cheminnova has three production facilities spread across Andhra Pradesh and Himachal Pradesh and manufactures a variety of drug dosages ranging from solids, liquids and packaged powders. Recently, Cheminnova has undertaken capacity expansion to injectable products as well. Cheminnova claims to have full HACCP, ISO 14001, ISO 9001, GMP, Halal and Ayush certifications.
While interacting with the authorities at a press conference, it is revealed that the firm is in the process of establishing its presence across the regulated and emerging markets. The company has accreditations and is confident with its capability to manufacture food products or nutraceuticals as well as pharmaceutical products.
Over the past few decades Cheminnova has demonstrated its manufacturing excellence in a broad portfolio of therapeutic segments by being a trusted partner to its customer base across the world. With more than top 20 pharmaceutical companies as its clients in India, it had proved its efficiencies in cost, quality and safety.
“We are excited about the prospect of the partnership and pleased to take a significant step towards establishing the new healthcare joint venture with Rapid Nutrition” says Cheminnova’s managing director, Vasudev Rao.
Rapid Nutrition is known for developing niche products and is expanding into a comprehensive healthcare company. With this new partnership the Australian firm is planning to utilize the combined resources for its full vertical integration of research, production, marketing and sales of a complete range of innovative products.
Vaidyanathan Nateshan, Head – Business and Strategy for Cheminnova said, “The manufacturing capabilities of Cheminnova can serve both pharmaceutical and nutraceutical requirements. This will be a significant step for Cheminnova to foray into international markets, not only as a manufacturer but as a product company as well.”
Rapid Nutrition’s flagship products include Leisa’s Secret, a set of scientifically formulated weight loss and maintenance supplements.
Explaining about the future growth prospects with the new partnership, “Our joint venture with Cheminnova will enable Rapid Nutrition to manufacture its own high quality finished formulations as well as derive an income from continued contract manufacturing,” said, Simon St Ledger, managing director, Rapid Nutrition.
On the whole with this new partnership both the companies are planning to explore newer markets for their products and strategically moving to build a sustainable growth path with a global outlook.
With this new venture Cheminnova will gain a significant stake in exchange for the intellectual property rights for RNL’s product range for some markets and the manufacturing rights for the products worldwide.
Established by the late Dr M Seshgiri Rao in 2001, Cheminnova has three production facilities spread across Andhra Pradesh and Himachal Pradesh and manufactures a variety of drug dosages ranging from solids, liquids and packaged powders. Recently, Cheminnova has undertaken capacity expansion to injectable products as well. Cheminnova claims to have full HACCP, ISO 14001, ISO 9001, GMP, Halal and Ayush certifications.
While interacting with the authorities at a press conference, it is revealed that the firm is in the process of establishing its presence across the regulated and emerging markets. The company has accreditations and is confident with its capability to manufacture food products or nutraceuticals as well as pharmaceutical products.
Over the past few decades Cheminnova has demonstrated its manufacturing excellence in a broad portfolio of therapeutic segments by being a trusted partner to its customer base across the world. With more than top 20 pharmaceutical companies as its clients in India, it had proved its efficiencies in cost, quality and safety.
“We are excited about the prospect of the partnership and pleased to take a significant step towards establishing the new healthcare joint venture with Rapid Nutrition” says Cheminnova’s managing director, Vasudev Rao.
Rapid Nutrition is known for developing niche products and is expanding into a comprehensive healthcare company. With this new partnership the Australian firm is planning to utilize the combined resources for its full vertical integration of research, production, marketing and sales of a complete range of innovative products.
Vaidyanathan Nateshan, Head – Business and Strategy for Cheminnova said, “The manufacturing capabilities of Cheminnova can serve both pharmaceutical and nutraceutical requirements. This will be a significant step for Cheminnova to foray into international markets, not only as a manufacturer but as a product company as well.”
Rapid Nutrition’s flagship products include Leisa’s Secret, a set of scientifically formulated weight loss and maintenance supplements.
Explaining about the future growth prospects with the new partnership, “Our joint venture with Cheminnova will enable Rapid Nutrition to manufacture its own high quality finished formulations as well as derive an income from continued contract manufacturing,” said, Simon St Ledger, managing director, Rapid Nutrition.
On the whole with this new partnership both the companies are planning to explore newer markets for their products and strategically moving to build a sustainable growth path with a global outlook.
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