The acquisition, done by the company's consumer products division, includes brands in the gastro-intestinal segment like Naturolax, Lactobacil and Farizym.
The acquisition, done by the company's consumer products division, includes brands in the gastro-intestinal segment like Naturolax, Lactobacil and Farizym.
"The gastro intestinal market which addresses the constipation, diarrhea and appetite stimulant categories is a INR 2,000-crore market growing at 15-16% per annum," says COO of consumer products division, Kedar Rajadnye.
Piramal Enterprises intends to offer these brands through the over-the-counter (OTC) route.
The Indian OTC market is valued at approximately Rs. 15,000 crore, growing at around 14% per annum.
At present, Piramal Enterprises has six brands that figure in the top 100 OTC brands of the country. With this deal, the count will increase to eight brands.
"Our aim is to be a significant player in all the businesses we have retained in the healthcare segment. The consumer products business started its journey as an independent player in 2009 and was ranked 40th among all OTC players in India," says Nandini Piramal, ED, Piramal Enterprises.
"The business has grown rapidly at 24% over the past six years and is now ranked seventh among all OTC companies in India. In line with our strategy, we aim to be a top-3 player in the OTC market by 2020 and the addition of this portfolio of brands will help us move swiftly towards that objective," she adds.
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