Business

Lupin targets ₹300 cr. revenue from OTC

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Eyes acquisitions to expand offerings

Pharmaceutical company Lupin Limited has forayed into over-the-counter (OTC) segment with the pan-India introduction of Softovac, a bowel regulator.

Lupin Life Consumer Healthcare, a division of Lupin, would roll out an OTC product every quarter and targets to clock ₹300 crore in turnover in five years, a top official said.

“We have entered into OTC segment with Softovac,” said Anil Kaushal, head, consumer healthcare business, Lupin. “We are talking baby steps but we are here for the long haul,” he said. “OTC is a big margin business and it is a lucrative market. We want to be part of it. We have plans to build a ₹300 crore business in five years.” Mr. Kaushal said.

Mr. Kaushal said the company was now ready with a pipeline of products which had been developed by the company. Besides, it was looking for acquisitions to broad-base its product offerings and scale up quickly. The firm operated in the areas of vitamins and lifestyle products to name a few.

‘Huge potential’

Lupin believed that the OTC segment had vast potential for growth and said it would invest ‘heavily’ in this business to build multiple billion rupee brands in two years. However, Mr. Kaushal did not quantify the amount to be invested.

Pegged at more than $2.7 billion in 2016 as per Nicholas Hall 2017 report, the Indian OTC market is expected to grow at a CAGR of 9% to cross the $6.5-billion mark by 2026.

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Printable version | Jan 19, 2020 1:35:56 AM | https://www.thehindu.com/business/lupin-targets-300-cr-revenue-from-otc/article22444755.ece

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