Consumer Products and Over The Counter Division (OTC)
This is a domestic business that caters to Indian consumers through sales of OTC products. The OTC division of Piramal Enterprises Ltd, is one of the key businesses that the company retained after divesting its flagship formulations and diagnostics services units. It is in the process of finalizing multiple acquisitions. Piramal Healthcare is one of the fastest growing players in the Rs.11, 000 crore by sales domestic consumer healthcare market, which deals with non-prescription products in the healthcare and wellness segment. Piramal Enterprises entered the OTC market with the acquisition of Saridon from Roche and Lacto Calamine from Duphar in the early 1990s. In 1998, it did joint ventures with Reckitt Benckiser and Boots to get their OTC range to India. The company decided to establish its own Consumer Products Division in 2007. Piramal Enterprises' OTC range straddles the pharmaceutical space as well as the personal care space with most-trusted brands in diverse product categories like Vitamins & Nutrition, Analgesics, Dermatological, Antacids and Cough & Cold. Led by Mr. Kedar Rajadnye, President & Chief Operating Officer of the Consumer Products Division, the business boasts of 5 major brands with 30 SKUs which are:
(1) Lacto Calamine – With a turnover of Rs 70 crore in 2009–10, it is growing to be Piramal’s first Rs 100-crore brand
(2) Saridon – With 9 per cent of the Rs 90 crore analgesics market, Saridon has crossed the Rs 50 crore mark
(3) Supractiv Complete – Rs 12 crore and the 2nd biggest brand in the nutrition segment after Revital
(4) Itchmosol – Rs 6 crore and the No. 2 slot in the Itch Creams market after Itchguard
(5) i-Pill – a 50 crore brand
Other brands include Workz, Tetmosol, Itchmosol & Polycrol.
The division jumped 29 ranks in 3 years; from the 40th rank in FY-08 to 11th rank in FY-10. With leading brands in varied product categories, the business has grown at the rate of 37% CAGR in the last 3 years with sales of 125 crore last fiscal. One of the highest media spends in the OTC space.
Piramal Enterprises has a large field force covering more than one lakh towns across the country. The 1,200-robust sales force identified these towns which have more than 100,000 people, and currently service 400,000 chemists and general stores.
Read more about this topic: Piramal Healthcare
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