Strides Consumer announcesits strategic entry into Northern India
Strides Consumer Private Limited (SCPL), a Bangalore –based consumer healthcare company, today marked its foot print into the Northern markets of India, after successful expansion in southern and eastern regions. As part of its entry, SCPL has launched two distinct products – NIXIT, an oral Nicotine Replacement Therapy (NRT) and JOINTFLEX, a topical analgesic cream for joint care.
Headed by industry veteran Mr. Subodh Marwah, SCPL has two marquee investors - India Life Sciences Fund with ~74% holdings and Strides Pharma Science Ltd (a listed company) with ~26%. It aims to offer the Indian consumers high quality and differentiated products inspired from the best of global products with Indian customization.
The products NIXIT and JOINTFLEX are unique in their own ways. NIXIT is a great tasting NRT Gum. NRT is the recommended first-line therapy by WHO and USFDA which helps to quit smoking. NIXIT follows the 3 months step down dosage schedule of NRT. At present, the NRT market is pegged at Rs 156 crore and projected to reach Rs 450 crore by 2023. SCPL’s NIXIT has launch its gums at a very attractive price point – Rs. 49 for 2 mg gum & Rs 55 for 4 mg gum. In research, the flavour and mouth feel of NIXIT Gums has been highly appreciated by the consumers.
JOINTFLEX, a topical analgesic cream, helps build healthy joints. Fortified with super ingredients GLUCOSAMINE and CHONDROITIN SULPHATE, it provides powerful, fast-acting and long-lasting pain relief. While India is home to 180 million arthritic patients, most of the current topical analgesic products treat only muscle pain, leaving the huge section of joint pain unattended. JOINTFLEX is exclusively designed to address the joint pain segment and is a complete joint care product. 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, “Our expansion into the new geographic sphere testifies our vision to take our brand and products to every customer in the nation. Today, the consumer healthcare sector in India, which is valued at $ 3 Bn and poised to witness a twofold growth by 2024, is set to redefine itself with the increasing knowledge about preventative healthcare among customers and need for niche customer-centric products. In such a scenario, it is imperative for any brand to deliver a proven solution in order to achieve high customer confidence. And, this is perhaps what we want to deliver to our customers through our products. 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 has its presence in Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Kerala and eastern markets, including West Bengal, Madhya Pradesh, Chattisgarh, Odisha and Assam. It has a wide distribution network set up in these regions.