15 January 2018 | News
Pegged at over Rs18,862cr as on 2016 as per Nicholas Hall 2017 report, the Indian OTC market is expected to grow at a CAGR of 9% to cross the Rs44,115cr mark by 2026
Lupin Limited (Lupin) has made a foray into the over-the counter (OTC) segment under the ‘Lupin Life Consumer Healthcare’ umbrella with the pan-India launch of Softovac.
Softovac is a 34 year old company has been trusted by millions of consumers who suffer from constipation and irregular bowel habits.
Pegged at over USD 2.7 billion (INR 18862 crores) as on 2016 as per Nicholas Hall 2017 report , the Indian OTC market is expected to grow at a CAGR of 9 percent to cross the USD 6.5 billion (INR 44115 crores)mark by 2026.
Softovac’s shift to OTC was piloted in West Bengal during which the brand witnessed a growth in sales of over 25 percent, and post the success of the pilot, a pan-India roll-out was initiated.
As part of the launch, the brand has also launched a 360-degree communications campaign based on the insight of ‘incomplete evacuation creates a deep sense of dissatisfaction amongst consumers’.
The brand has signed actor Anil Kapoor as a brand ambassador for Softovac who features in the TV campaign currently on air.
This is also supplemented by print and digital campaigns, below-the-line and point-of sale activations, as well as outreach with key stakeholders in the healthcare industry.
Softovac is available as a pack of 100 grams with two variants, regular and sugar-free.