Five years after it exited over-the-counter products, Cipla has renewed its focus on the segment. The company is looking to build five Rs 100-crore brands in five years by tapping into the growing health and wellness consciousness among urban population.
Last year, the 80-year-old drug major spun off its consumer health business to Cipla Health, its joint venture subsidiary with private equity (PE) firm Eight Roads Ventures India (formerly Fidelity Growth Partners). The PE firm completed its Rs 145-crore investment in the company 10 days ago after receiving government approvals. Cipla holds 74 per cent in the subsidiary while the remainder is held by Eight Roads Ventures India. The over-the-counter (OTC) segment within India is growing at around 15 per cent annually. It is also the crowded segment with both local and multi-national drug companies including Sun Pharmaceuticals, Piramal Enterprises, GSK, Abbott and Pfizer competing for a pie of the business.