The Himalaya Drug Company has taken the OTC (over-the-counter) route for several of its products. The products under OTC for the company currently account for seven - eight percent of its total revenue. "We are very positive and anticipate a healthy growth for our OTC healthcare segment," informed Ravi Prasad, president & CEO, The Himalaya Drug Company.
Currently the company has 51 products in the OTC segment where Pure Herbs account for 12 products and personal care range comprise 39. In the prescription + therapeutic drugs category, there are 32 products.
The company entered the OTC segment in 1999 with the brand 'Ayurvedic Concepts," a health and personal care range (skin, hair, dental and general health care) which was re-christened as 'Himalaya' early this year.
The company again opted for the OTC route when Pure Herbs was introduced in March 2002. "Given the change in lifestyles which leave little time to consult a doctor for minor ailments, consumers are opting for self-medication which promises a lucrative business opportunity to many new entrants in this segment," added Ravi Prasad.
The Pure Herbs range has Amalaki [anti oxidant], Arjuna [blood circulation], Ashvaganda [anti stress] Bramhi [alertness], Karela [regulates metabolism] Lasuna [cholesterol protection] Neem [skin care], Shudda guggulu [lipid regulator], Shallaki [joint pain], Tagara [relaxant], Triphala [bowel cleanser] and Tulasi [cough and cold].
In the wake of the government of India's decision to prepare a comprehensive list of OTC products and market these in super markets and departmental stores, Ravi Prasad believes that the ruling will only help in generating more awareness and result in appreciation of sales. "Himalaya retail outlets enjoy a loyal customer base. The availability of our products in departmental stores will not affect our sales," he averred.
The 72-year old company has used modern research to create pharmaceutical grade herbal products for health and personal care, which is popular in 50 countries, including USA, UK, Holland, Switzerland and Belgium. It also the first herbal company in the country to have good manufacturing practices.
The global market for herbal healthcare is estimated at $ 62 billion. The estimated size of the herbal healthcare and personal care market in India is estimated between Rs. 2,500-Rs. 3,000 crore. The company's current turnover is Rs. 250 crore and is expected to increase to Rs. 500 crore by 2005.