US-based biotechnology firm Hysun Biomedical Inc, specialising in the production of health supplement has forayed into the Indian market by forming a joint venture with domestic firm Phyto Biotech to launch its health supplement products in the country.
The joint venture also aims to set up a facility at an investment of around US $15 million (over Rs 100 crore) in the first phase to manufacture products in India.
The company also launched its first health supplement ‘Suga Balanz’ targeting the diabetes segment in the country.
“We are delighted to bring Suga Balanz to India. With the launch of our maiden product, we look forward to make a significant contribution to the growing healthcare industry in India. We see huge market potential here, given the large number of diabetic & pre-diabetic people in the country. This unique product can help to better manage and address the root cause of the diabetes problem, Hysun Biomedical Inc, Founder, Samuel Yue informed.
Yue also informed that they are set up a manufacturing facility in India to make health supplements and skincare products here.
Later the plan is to introduce more products targeting chronic diseases such as heart diseases, joint pains, aging and Alzheimer’s, Yue said.
Commenting on the investment to be made in the first phase to set up the facility, Phyto Biotech Pvt Ltd Director Marketing Karan Kakkad said: “The facility will be set up in Bengaluru and will entail an investment of USD 15 million in the initial phase. Suga Balanz targets and decreases the insulin resistance i.e. makes insulin receptors more sensitive to insulin at cellular level among many of its functions.”
“Many of the Indian diabetic patients have used Suga Balanz and have controlled their blood glucose extremely well & naturally.It is a fifty-fifty joint venture by both the companies,” he added.
Established in 2009, US based Hysun Biomedical Inc develops and manufactures healthcare supplements.