Sun Pharmaceutical Industries Ltd (Sun Pharma) has decided to focus on the dermatology segment as the fourth engine of growth of its Global Consumer Healthcare and OTC (over-the-counter) business. In line with this strategy, the company on Wednesday laiunched a sunscreen called Suncros, its first dermatology product aimed at offering protection from harmful UV rays.
Sun Pharma’s Global Consumer Healthcare business includes the sale of dietary markets supplements, analgesics and antacids in India.
Currently marketed as a branded prescription product, Sun Pharma will now launch select variants of Suncros to market directly to consumers. The Suncros range has a differentiated product mix that provides an offering for all skin types, the company said.
“Our foray into the dermatology category is an indicator of the focus and importance Sun Pharma assigns to grow the consumer healthcare business,” said Subodh Marwah, Business Head, Global Consumer Healthcare, Sun Pharma. “Suncros offers a unique opportunity to get into this fast growing sunscreen category.”
Sun Pharma, for the first time, is adopting a co-promotion strategy to market Suncros. Company officials did not quantify incremental revenue from this segment.
“We have the largest distribution bandwidth in the prescription business. This will be extensively leveraged to co-promote the Suncros brand amongst dermatologists,” said Abhay Gandhi, CEO of India Business. “We believe our unique co-promoting strategy to market Suncros across both prescription and consumer channels will ensure the brand continues to receive traction amongst its legacy customers as well as new consumers through the OTC business.”
The company, India’s biggest pharma company by turnover, entered the consumer healthcare/OTC business as a result of the merger of Ranbaxy into itself.
OTC is a high-margin, high-growth business which Sun Pharma intends to use as a base to create a global consumer entity.
Sun Pharma said it was evaluating various options to grow the business, including foraying into new product categories and potential inorganic opportunities.
Shares of Sun Pharma closed 0.05 per cent lower at Rs. 738.35 on the Bombay Stock Exchange on Wednesday.
The company has launched a sunscreen called Suncros, its first dermatology product
