Forays into the Rs 800-crore nasal inhaler segment
Elder Pharmaceuticals has expanded its Solo range of OTC products with the launch of Solo range of inhalers for nasal congestion. The Solo basket consists of Solo Rub, a pain balm, Solo cough drops and Solo lozenges for throat soothing. With an eye on the rural markets, the company is also launching these products in smaller sizes and has earmarked a budget of Rs 25 crore for promotional activities.
Elder foresees an eight to 10 per cent annual growth in the nasal decongestion market and is banking on substantial growth from category B&C towns.
Alok Saxena, Managing Director, Elder Pharmaceuticals said, “Over the counter inhalers are the first level treatment for nasal congestion and doctors/ specialists are consulted only if the condition worsens. Rising cost of raw materials, competitive market conditions and over dependency on the urban markets had affected the sales of the company’s OTC products in the recent years. With focus on price, product mix and penetration, Elder is set to regain its prime position in the OTC sector.”
EP News Bureau – Mumbai