Riding high on the healthcare wave, the Indian pharmaceutical industry seems to be turning to retail therapy for growth. The prescription, however, is not a broad-spectrum one: instead it is stand-alone branded outlets that several firms are turning to.
Consider this. Mumbai-based Zandu Pharmaceuticals has five exclusive outlets nationally.
By 2005, the company plans to have eight or ten more outlets. The Delhi-based Dr Morepen is waiting to launch Tango, its own retail chain, once it is able to put its financial problems behind it.
This comes almost a year after the company had acquired Lifespring, a retail chain partly owned by an Australian retail major, that stocks an array of health and beauty products.
Similarly, Bangalore-based Himalaya Drug Company, built 28 stand-alone stores in all of one year, starting August last year. There are talks of other pharma giants like Nicholas Piramal, Cadila group and IPCA Labs also setting up their own chain of exclusive retail stores this year.
So why are pharma companies taking the retail route for their OTC (over-the-counter) products? Anil Rajpal, manager, KSA Technopak, says it
