Lupin, which is one of the top 10 pharmaceutical companies in India, has entered the Over-the-Counter (OTC) segment with Softovac — known to be used by millions of people to treat constipation and irregular bowel habits.
“The OTC segment is one of the fastest growing segments in the Indian pharmaceutical market. This, combined with our capabilities and expertise in this space makes it a lucrative business opportunity for Lupin,” said Nilesh Gupta, Managing Director, Lupin.
According to him, the company’s long-term strategy is to include new products in its portfolio as well as offerings like Softovac, for which Lupin has signed actor Anil Kapoor as the brand ambassador.
A 360 degree communication campaign has been launched to promote the product on TV, print and digital platforms.
“Constipation is considered a topic not worth talking for a lot of Indians. While many do not consider it a serious problem and tend to ignore it, studies report that one out of four Indians feel constipated, which affects their daily routine and productivity,” said Anil Kaushal, Head, Consumer Healthcare Business, Lupin.
According to a company release, the $2.7 billion Indian OTC market is expected to grow at a CAGR of 9 per cent to cross the $6.5 billion mark by 2026.
Lupin claims that Softovac contains “100 per cent natural actives” traditionally known to “provide effective relief from constipation and irregular bowel habits”.
