Dolo maker Micro Labs to enter OTC market with wellness product range

economictimes.indiatimes.com:

Micro Labs, a Bengaluru-based pharmaceutical company, is making its entry into the high-growth over-the-counter (OTC) segment by introducing a range of wellness products.
As per a TOI report, the company initially plans to transfer a portion of its 'legacy' Dolo brand into the OTC segment.

OTC medicines generally do not require a doctor's prescription and include products such as immunity-boosting vitamins, skin ointments, lozenges, and pain relief gels.

This segment has been growing at a robust rate of 10-15%, making it one of the fastest-growing segments in the pharmaceutical market.

Dolo, known for its pain and fever relief properties, achieved significant recognition during the pandemic, resulting in a 30% increase in sales to approximately Rs 350 crore last year.

This strategic move aligns with the trend seen in the pharmaceutical industry, where companies like Cipla, Piramal, Sun Pharma, and Mankind have ventured into wellness products to achieve faster growth, broader market reach, and increased visibility through their distribution networks. These companies are delivering steady growth in the consumer healthcare portfolio, and registering revenues in the range of Rs 800-1,000 crore annually.

Currently, the Rs 400 crore Dolo brand is available in strengths of 650 mg and 500 mg.

With the introduction of OTC products, Micro Labs plans to expand its brand offerings, including Dolo 500, Dolo Pain Relief Gel, Dolo Spray, Dolosils cough lozenges, as well as other products such as skin ointments, nicotine gum, and oral rehydration solutions (ORS). In the consumer healthcare market, vitamins and supplements and gastro drugs are the top-selling segments, with annual revenues of around Rs 15,000 crore and Rs 12,000