Syngene, the contract research and manufacturing unit of Biocon is looking to expand its business to work on products for customers that target Indian consumers. It has signed up HerbalLife Nutrition, a nutrition company to develop nutrition based products that can be sold by the company in the country.
This is the first nutrition research and development lab in India by HerbalLife. The new facility is located in Syngene campus and has a separate Good Manufacturing Practices (GMP) formulation lab to support product testing, sampling and end-product development. The lab currently has 10 members combined from Syngene and HerbalLife.
“Apart from bringing the global portfolio of products to India, we also endeavour to develop flavours that appeal to the Indian palate. Setting up the Nutrition R&D Lab in collaboration with Syngene will give us the ability to turn around new products faster, and introduce them to the market quicker,” said Kiran Mazumdar Shaw, managing director, Syngene International limited.
This is the fifth dedicated centre and second for nutrition research by Syngene. “India is becoming the innovation capital. In 10 years, India will sure be an innovation centre with the kind of talent we have. The bio-economy sector has a huge potential going further,” Shaw added.
The industrialist says by 2025 the bio-economy sector in India would be $100 billion with $50 billion of it being in bio-agriculture. Currently, it is a $50 billion industry in India.