taps into consumer healthcare market of Western India with two distinctive products
Mumbai, 03rd March, 2020: Bangalore –based consumer healthcare company, Strides Consumer Private Limited (SCPL), today announced its entry into western Indian with two uniquely developed products- NIXIT, an oral Nicotine Replacement Therapy (NRT) and JOINTFLEX, a topical analgesic cream for joint care. The company’s new move comes immediately after its recent successful expansion into eastern and northern markets, while it was first launched in south in 2019.
SCPL is headed by industry veteran Mr. Subodh Marwah and it has two marquee investors – India Life Sciences Fund with ~74% holdings and Strides Pharma Science Ltd (a listed company) with ~26%. With its intense understanding about Indian consumer healthcare market, SCPL thrives to cater the Indian consumers with high quality and differentiated products inspired from the best of global products with Indian customization.
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 about the expansion, Mr. Subodh Marwah, CEO, Strides Consumer Private Limited said, “Today, the consumer healthcare sector in India is valued at $ 3 Bn and expected to witness a twofold growth by 2024. It 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 expansion into the new geographic sphere testifies our vision to take our brand and products to every customer in the nation. Our products NIXIT and JOINTFLEX are based on advanced formulations with extensive research to ensure we cater to the requirements of every consumer.”
Backed with a wide distribution network, SCPL is currently present in all the states of southern, eastern and northern regions. With today’s expansion, it aims to reach out to all the parts of western India with similar and robust distribution strategy.
NIXIT Gum comes in two strengths – 2 mg for light smokers and 4 mg for heavy smokers, priced at Rs 49 and Rs 55, respectively. JOINTFLEX comes in two packs – 15 g and 30 g, priced at Rs 65 and Rs 120, respectively. NIXIT can also be ordered through Amazon, e-pharmacies and www.nixitindia.in.
About Strides Consumer Private Limited:
Strides Consumer Private Limited started operations in 2017 with a purpose to bring to the Indian market high-quality consumer healthcare products which are differentiated and provide to the Indian consumers the best of global performance with Indian customization. SCPL has two marquee investors. India Life Sciences Fund which holds ~74% and Strides Pharma Science Ltd (a listed company) with the balance ~26%. The business is led by Subodh Marwah, who is the CEO of SCPL and comes with over 2 decades of India and global experience within FMCG and Consumer Healthcare industry. Website: www.stridesconsumer.in.
