PHARMABIZ.COM
Thursday, January 15, 2004 15:00 IST
Our Bureau, Bangalore

Sami appoints Ernst & Young India to advise on expansion plans


The Rs.250 crore Sami Labs has appointed Ernst & Young India as consultants to advice the herbal extraction company in its ongoing process of merging all its group companies -- Sabinsa Corporation in the US, Organica Aromatics, Anju Phytochemicals, and Sami Labs -- under one roof.

"We have appointed consultants Ernst & Young India to design the company's expansion plans and advise on a fund raising programme," Dr Muhammed Majeed, Managing Director, Sami Labs told Pharmabiz.com

In its action plan for 2004, Sami Labs Limited, plans to strengthen its formulation marketing team so as to achieve its sale target of 100 tonnes for its ForsLean, in the US, EU and Japanese markets. The company is also planning to introduce three new products - Policosanol, Rosmarinic Acid and Oleanolic Acid, for which details were not disclosed.

"Our focus continues to be on herbal extraction, although we have introduced nutraceutical formulations in the domestic market, which will take its own time to mature. There is ample business potential in the nutraceutical formulation sector and we decided to take the opportunity to enter the market," Dr Majeed said

The sales of its nutraceuticals, particularly AntoxCare, ArthriCare and CoQCare are encouraging, he added.

In the area of research and development, it will focus on natural products, bio-transformations and optimize the process for commercial production of Coenzyme Q10. The R&D team has identified a new molecule to increases skin permeability and the product is a derivative of natural product which will find widespread use in cosmeceuticals, agriculture (insecticide) and drug industry where it will enhance the efficacy of anthelmentics, he said.