The Rs.196 crore Elder Pharmaceuticals Ltd has initiated talks with a foreign firm to market skin care and lip care products in the next six months, according to a senior company executive here.
Elder is also planning to launch five brand extensions of its best-seller and wholly Ayurvedic topical analgesic Tiger Balm in the next few months. Tiger Balm, one of the world's leading topical analgesics which relieves aches and pains, contains essential oils such clove, cinnamon and cajuput sourced from plants.
It may be recalled that Elder has a marketing arrangement with Singapore-based Haw Par Healthcare Ltd which is the inventor of the product.
As part of its over-the-counter (OTC) initiative, the company has also decided to foray into oral care products with toothpastes and toothbrushes under the brand name AMPM. The new products, which will hit the market in the next few months, include toothpaste and toothbrushes, which will be in addition to the existing range of AMPM mouthwashes. The company hopes to target the premium segment of the toothpaste market, but for toothbrushes the company plans to have toothbrushes catering to economy, mid price, premium and super premium range.
Elder will manufacture these products through an alliance with two domestic companies. The revenue of the company from OTC products alone is likely to touch Rs.12 crore during the next financial year following the new initiatives, he said.
AMPM will be positioned as the company's umbrella OTC brand for total oral care. Elder's premier brands in the OTC category include Tiger Balm, Tiger Oil, Tiger Muscle Rub, Solo Cough syrup, Solo Inhaler, Solo Vaporub, Solo cough tablets (in three different flavours - Euco Menth, Ginger Lemon, Orange), Foltene - Treatment for loss of hair and for stimulating regrowth of hair, Elder Pain Balm, Acne Away (Herbal Pimple Cream).
Recently, Elder has recently launched hard-boiled candies (HBC's) under the brand name "Flyer" which comes in seven mouthwatering flavours - Coffee, Caramel, Mango, Orange, Strawberry, Lemon and Pineapple.