Indian healthcare major Piramal is betting big on its over-the-counter (OTC) business, which includes contraceptives, skin care products and headache pills.After the landmark buy of Cipla’s oral contraceptive brand i-pill in 2010, the company is now looking to grow its OTC turnover five-fold to Rs 1,000 crore in four years. "By 2016, we expect our OTC business to reach Rs 1,000 crore from the current turnover of Rs 200 crore," said Kedar Rajadhne, president, consumer products division, Piramal Healthcare.
Piramal is eyeing the 3rd position in the Indian OTC market which now comprises of Glaxo, Dabur and Reckitt Benckiser.
“We see ourselves in the top-3 OTC companies by 2016,” Rajadnye said. “In the last four years, we have moved up to the 7th position from 40th with a growth rate of over 28%.”
Piramal’s marquee brand i-pill is estimated to bring in around Rs 60 crore turnover. The ‘i’ (intimate) range is expected to be one of the major contributors for the company to hit these targets.
“Through the ‘i’ range we are leveraging the benefits of a niche market,” Rajadnye said. “There is at least Rs 600 crore opportunity in intimate range market due to which we plan to expand the category aggressively.”
The company’s growth will be helped by the launch of products, extension of existing portfolio and most importantly, acquisitions. “We are identifying feasibility of deals. After all, an acquisition should be economically sensible,” Rajadnye said without revealing details of ongoing negotiations.