Zeon Lifesciences has signed a Memorandum of Understanding (MoU) with UPES – Dehradun for collaborative research in the fields of nutraceuticals, wellness, phytopharmaceuticals and Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (AYUSH).
The company aims to establish collaboration for academic interaction and advancement of research in the specified fields, and to conduct research along with sharing facilities and expertise available with each other. UPES and Zeon Lifesciences will also conduct clinical trials as per AYUSH or DCGI guidelines, applicable for a selected formulation.
With a vision to transform into a research-driven organisation, Zeon has collaborated with multiple institutions across India for conducting quality research, pre-clinical and clinical study on these products, including NII, New Delhi; CCMB Hyderabad; IMS, Banaras Hindu University (BHU); SRM University, Chennai; Adesh University, Punjab; BITS Pilani; NIPER Mohali, and IIIM, CSIR, Jammu.
In a recent media interaction, Suresh Garg, MD and Founder, Zeon Lifesciences, notified that the nutra industry stood at $4 billion before COVID-19 pandemic hit the world. It is expected to reach $5.5 billion and $18 billion in 2022 and 2025, respectively.
He also said that nutra business outside India is over 50 per cent, whereas in India, it is only two per cent. Moreover, in India, the cost of manufacturing nutraceuticals is quite less as compared to other countries.
Of late, the company has started exporting its products to Russia and Australia, among other countries. Moreover, a few companies have also approached Zeon to manufacture their products and export those.
Zeon has also been constantly expanding its capacity for testing processes. “Every year, we are increasing our capability to test and research,” according to Garg.
In addition, Akums, Tirupati Lifesciences and Patanjali are some of the companies to which Zeon provides value-added ingredients for manufacturing.
In terms of revenues, the company registered a growth of Rs 230 crores in 2021-2022, and it expects a turnover of Rs 300 crores in 2022-23.