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Mankind forays into OTC segment; targets Rs 1,100 cr top-line.
New Delhi, March 29: Drug firm Mankind Pharma on Thursday said it will invest Rs 15 crore to foray into the domestic OTC drug market, as it targets a two-fold jump in its top-line to cross the Rs 1,000 crore revenue mark by 2009-10.
"We would close the current fiscal at Rs 550 crore and are targeting to touch the Rs 1,100 crore mark by 2009-10. The new OTC division is expected to contribute Rs 125 crore to the overall revenues by then," R C Juneja told reporters here.
He said the major portion of the earmarked Rs 15 crore in the OTC division would go towards strengthening dealership network and increasing brand presence across the country.
The company had test launched its OTC products in parts of Uttar Pradesh in December 2006 and has clocked sales of Rs 1.25 crore in the first three months in the State, he said.
Mankind is looking at a pan-India presence in the Rs 20,000 crore domestic OTC market by the end of this year and would be present through more than 2,000 retailers across the country.
The company is targeting revenues of Rs 30 crore from the first full year of operations of the OTC division.
The OTC division would sell products including shampoos, soaps, energy drinks, calorie free sweeteners, sanitary napkins, medicated dressings, condoms and diapers.
The company expects exports to contribute 7-8 per cent to its overall revenues by 2010.
Bureau Report ZEE NEWS.COM
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