Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jan, 16 2018

Drug Major Lupin Forays Into OTC Segment

The Mumbai-based firm has introduced its legacy product 'Softovac' across the country as an OTC medicine

Drug Major Lupin Forays Into OTC Segment

Drug major Lupin said it has forayed into over-the-counter (OTC) segment in the country with plans to touch Rs 300 crore turnovers in the vertical over the next five years.

The Mumbai-based firm has introduced its legacy product 'Softovac' across the country as an OTC medicine.

Lupin Head OTC Business Anil Kaushal said “It was imperative for us to enter the OTC segment as the vertical has been steadily growing over the years in the country. Over a horizon of five years we are looking at a turnover of Rs 300 crore from the business. Lupin, one of the top five pharma companies in the country, plans to launch a variety of products across various categories like vitamins/minerals and lifestyle OTC products going ahead”.

For over 30 years, Softovac has been a product of choice for many patients who suffer from constipation and considering the widespread prevalence of this condition, the shift from prescription to OTC has made it more accessible to those who need it the most, he added.

Softovac's shift to OTC was piloted in West Bengal during which the brand witnessed a growth in sales of over 25 per cent, and post the success, a pan-India rollout was initiated.

According to industry sources, the Indian consumer healthcare business is pegged at around USD 2.7 billion (over Rs 18,800 crore) and is expected to touch USD 6 billion mark (over Rs 40,000 crore) by around 2026.

Lupin Managing Director Nilesh Gupta said "The OTC segment is one of the fastest growing segments in the Indian pharmaceutical market. This, combined with our capabilities and expertise in this space, makes it a lucrative business opportunity for Lupin. The company's long-term strategy is to have a portfolio of new products as well as offerings like Softovac, all of it aimed at addressing the unmet needs of patients.”

 

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Preschools
    About Us: UC Kindies is a Malaysian based corporation with an..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • After School Activities
    About Us: Cogitus is a higher order thinking after school program..
    Locations looking for expansion Jharkhand
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ranchi Jharkhand
  • Multi Cuisine Restaurant
    About Us: In Hungary, one of the most popular types of..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Digi Verve Technologies, exceptionally dedicated to Excellence in Digital..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities