Vitamins drive drug launches

Drug companies are increasing their focus on the over-the-counter segment

Drug companies are increasing their focus on the over-the-counter (OTC) segment and the last 24 months have seen 648 new initiatives in vitamins and nutritional supplements among the 6,828 new drug launches.

Vitamins were followed closely by anti-infectives (520) and pain relievers (465), according to the All India Organisation of Chemists and Druggists (AIOCD).

Hari Natarajan, vice-president, business intelligence, India and global audit, AIOCD Pharmasofttech AWACS, said the share of new initiatives as a growth driver for the Indian pharmaceutical market had declined from 4.5% five years ago to 3.1% now.

New initiatives contributed Rs 615 crore to the overall vitamins market of Rs 9,231 crore. These outdid new initiatives in anti-diabetics (Rs 611 crore), cardiology (Rs 233 crore), gastroenterology (Rs 220 crore), respiratory (Rs 194 crore), pain (Rs 211 crore), neurology (Rs 232 crore), dermatology (Rs 307 crore) and gynaecology (Rs 220 crore).

D G Shah, secretary-general of the Indian Pharmaceutical Alliance, said with price caps posing uncertainties for pharmaceutical companies, many were turning their focus on the OTC market, and vitamins were a key component.

Pure-play prescriptions player Lupin has started focusing on the OTC segment and recently made some pilot launches. "This is the first serious foray by the company into the OTC market. The OTC portfolio will be made up of proprietary products," Lupin’s Managing Director Nilesh Gupta had said during the company's September quarter results announcement.

Drugs

Earlier this year, Pfizer launched Becosules Women, a multivitamin enriched with Vitamin B along with other essential vitamins.

"The vitamin segment is growing at 11.8%. Pfizer has extended the Becosules franchise," a Pfizer spokesperson said.

Becosules are the leader in the vitamins mineral and supplements category, with a 51% market share in the B-complex segment.

Glenmark earlier this month said it planned to increase the OTC business through a focus on existing brands like Vwash and Candid Powder and new launches.

Consumption of vitamins and dietary supplements grew 13% in 2016. "The growth in the vitamins segment has come also because of increased adoption of vitamins among urban consumers to improve immunity and complement lifestyles," said an analyst.

According to Euromonitor, the vitamins segment is likely to grow at 3.6% annually between 2017 and 2021. Amway is the market leader in this segment with a 33.8% market share, followed by Pfizer at 16.8%. The AIOCD data does not include Amway's sales.