Financial Daily from THE HINDU group of publications
Tuesday, Oct 01, 2002
Financial Daily from THE HINDU group of publications Tuesday, Oct 01, 2002 |
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Announcements Marketing - Strategy Four Ranbaxy products go over-the-counter Our Bureau
Dr Brian W. Tempest, President, Pharmaceuticals, Ranbaxy Laboratories (right), with Mr Atul Malhotra, Head, Ranbaxy Global Consumer Healthcare and Regional Director, Middle East, at a press meet in the Capital on Monday.
NEW DELHI, Sept. 30
RANBAXY Laboratories Ltd (RLL) is expected to offer more over-the-counter (OTC) products in the consumer healthcare segment in the forthcoming year, besides products in the herbal and bio-tech segments. Announcing Ranbaxy's foray into the OTC segment with the first four prescription drug-turned OTC products — Revital, Garlic Pearls, Pepfiz and Gesdyp — Mr Atul Malhotra, Head of Ranbaxy Global Consumer Health and Regional Director Middle-East, told newspersons that more products were slated for launch next year. Products in the herbal category and bio-tech products are also expected next year. Ranbaxy intended to grow this business through products resulting from its own research and development, through alliances with other companies and acquisitions. In fact, Ranbaxy was evaluating proposals for strategic alliances and was open to acquisitions, Mr Malhotra said. Dr Brian Tempest, President-Pharmaceuticals, RLL, said that the company had plans for the bio-tech segment, including vaccines; however, he was not willing to divulge more details. Though bio-generics was a big segment in the US and the European Union, it would encounter hurdles in the US because of the regulatory framework, while the EU would require a strategic partner, he said. Giving details on the first four products in the consumer healthcare segment, Mr Malhotra said that the Rs 40-crore Revital, launched in 1989 as an ethical product, was switched to the OTC segment because of its high skew towards OTC purchase. The other three products together had total sales of Rs 5 crore. With a portfolio of 300-odd products, Ranbaxy will look to streamline more borderline prescription products into the OTC category, RLL's top-brass said. Through this foray, RLL seeks to target the estimated $1 billion domestic OTC market and the estimated $50 billion global market. And Ranbaxy has company in this segment as other active players include the highly-visible Dr Morepen, from the Morepen Laboratories stable. Nicholas Piramal India Ltd also has big plans for the OTC segment. Mr Malhotra said that the first four consumer healthcare products would be supported by commercials and hoardings, among other things. The company is also building up its distribution networks to cover 100 FMCG distributors, 60,000 chemists and one lakh outlets. RLL had also initiated a system of advance payment from distributors through HDFC, he said.
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