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Lupin forays into OTC segment; eyes Rs 3-bn turnover in 5 years

Lupin, one of the top five pharma companies in the country, plans to launch a variety of products across various categories

Press Trust of India  |  New Delhi 

Lupin

Drug today said it has forayed into (OTC) segment in the country with plans to touch Rs 3 billion (Rs 300 crore) turnover in the vertical over the next five years.

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

"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 3 billion (Rs 300 crore) from the business," Head OTC Business told

For over 30 years, Softovac has been a product of choice for many patients who suffer from 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 during which the brand witnessed a growth in sales of over 25 per cent, and post the success, a pan-rollout was initiated.

Lupin, one of the top five pharma in the country, plans to launch a variety of products across various categories like vitamins/minerals and lifestyle OTC products going ahead, Kaushal said.

"In the next 12-18 months there will be launches every 3-4 months. We plan to be present across all the OTC product categories," Kaushal said.

According to industry sources, the Indian 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.

In order to reach out to target customers, the company has roped in veteran as the brand

said: "The OTC segment is one of the fastest growing segments in the Indian 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, he added.

Lupin shares were trading 0.13 per cent down at Rs 917.95 on BSE.

First Published: Mon, January 15 2018. 16:08 IST
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