Nicholas Piramal And Boots Set Up Joint Venture In India

India's Nicholas Piramal and UK-based Boots Healthcare have establisheda Mumbai (Bombay)-based joint venture, Boots Piramal Healthcare, to develop and market consumer health care products, as noted briefly previously (Marketletter October 5). Boots will hold 51% and Nicholas 49% of the $1 million equity company.

The new company's board includes two Boots nominees (acting general manager James Robson and vice chairman Philip Wright) and will have as its chairman Nicholas chairman Ajay Piramal.

BPH will initially market three Boots brands, Strepsils, Icy and Sweetex, and two Nicholas skincare products, Lobate and Melalite. Sales of these brands are expected to amount to $5 million, with the Boots brands contributing roughly 60%. All products of the JV are to be made in India, with Nicholas making some at its production sites and the rest, including new products from Boots, manufactured under contract.