Galderma India, a wholly-owned subsidiary of Swiss multi-national pharmaceutical firm Galderma SA, has announced plans to sharply grow its business in India. Galderma SA, which is a 50:50 joint venture between Nestle and L’Oreal, specialises in the treatment of dermatological problems, and has been growing at 25 per cent in India.
The company, which has been operating in India since 2000, has a turnover of around Rs .100 crore, and intends to grow fivefold in five years. Globally, its turnover is 1.6 billion euros.
“We will be aggressively introducing products to achieve our target. We are getting products for pigmentation, melasma, alopecia (male and female pattern of baldness) and complete range of products for solar protection-cum-damage repair,” G Sathya Narayanan, Managing Director, Galderma India, told The Hindu.
“We have not even launched 10 per cent of our overall product offering in India. We have exciting plans for the aesthetic business as well. In the next few years, India will witness the launch of new exciting products from Galderma stable regularly,” Mr Narayanan added.
The Indian dermatological market is estimated to be around Rs. 4,000 crore, and the leading players include GSK, Johnson & Johnson and Glenmark. and The company said it would focus on the acne market, which is growing at 14 per cent.
“An estimated 200 to 300 million people are suffering from acne in India. The total acne market is estimated at Rs. 310 crore, and growing at 14 per cent per annum. We are the leading company globally in acne. Here we are growing at 31 per cent, and are ranked No.2 in India in the category,” he said.
Mr. Narayanan added that Melasma and Pigmentation categories were growing at 48 per cent in India while the aesthetic market was growing more than 50 per cent.
Currently, the company does contract manufacturing at Encube Ethicals, which is the only plant in India approved by US FDA for topical manufacturing. Mr. Narayanan said that the company had plans for technology transfer and to locally produce many of its formulations to cater to the South Asian markets.