Piramal plans big splash in consumer products biz, eyes Rs 10 bn revenue

With its non-compete agreement with Abbott ending next month, Piramal’s consumer products division has drawn up elaborate plans to expand its existing portfolio as well as acquire brands that have the potential for over-the-counter (OTC) switches. OTC business plans are part of the company’s broader strategy to enter the domestic pharmaceutical formulations market. 

Ajay Piramal, chairman of Piramal Enterprises, indicated a few months ago that the firm was exploring a possible re-entry into the domestic formulations market, which it had exited after selling the business to Abbott for $3.7 billion in 2010. 

According to market sources, Piramal has already opened