Piramal to foray into Phytopharma

JAIPUR: Piramal Healthcare Limited is planning to foray into phytopharma through launch of herbal products in the next financial year.

Piramal Healthcare director Swati Piramal told ET that the company has lined up Rs 10 crore for rolling out 2-3 herbal medicines aimed at curing inflammations and skin disorders. ���We are in the final stages of clinical trials of these herbal drugs. We will be launching as soon as the trials get over,��� he said.

The company has 50 scientists on board who are working on developing herbal remedies to various inflammations and skin disorders. ���There is a huge potential in phytopharma. China exports herbal products worth $500 million while India contributes only $50 million. We will be focusing big on these botanical drugs, which have a very slow but sure action. We will be adding more products subsequently,��� she said.

Apart from that, the drug research arm of the group Piramal Lifesciences will be investing Rs 200 crore in the next two years for developing new medicines. ���We are conducting global clinical trial of 14 drugs in US, Canada, Netherlands, Australia and India. These drugs are targeted at curing cancer, infections, diabetes and inflammations,��� she said.