New Delhi: Atlas Laboratories and Pharmaceuticals Ltd is foraying into the over-the-counter (OTC) segment as it plans to expand its overall product portfolio up to 100 drugs by next fiscal.
“From the beginning of the next fiscal, we would have around 80-100 products under our portfolio and out of which 10-15 would be in the category of OTC segments,” Atlas Laboratories and Pharmaceuticals (ALP) Executive Director Ashwin Kapur told PTI.
The company is currently present in the prescription medicines segment with about 30 drugs across different therapeutical areas.
He said the company’s plans to enter the estimated Rs 3,000 crore per annum OTC market has been mainly driven by the faster growth which the segment has been witnessing.
“OTC is growing at much faster rate as compared to prescription-based drugs in India and there has been a global consumer trend towards it. This attracts us towards the OTC segment,” Kapur said.
“In order to establish its OTC products in the domestic markets, ALP will spend around 5-10% of its sales on advertisements and brand building activities,” he added.
The company had clocked an overall turnover of Rs15 crore last fiscal and is targeting Rs60 crore this year.
“We are expecting around Rs100-120 crore turnover in the next fiscal out of which Rs30-50 crore would come from the OTC segment,” Kapur said.
The company had entered into the pharmaceuticals segment one and half year ago with around 15 products and added another 15 this year thus taking the total to 30.