Alkem Labs Ltd has entered into an alliance with Singapore-based Haw Par Healthcare to exclusively market, sell and distribute Tiger Balm range of products in India. Tiger Balm products will be promoted by Alkem Healthcare, an over-the-counter (OTC) division of Alkem.
Tiger Balm range of products, which use herbal ingredients that are derived from an ancient Chinese source, are used as a remedy for headaches, upper respiratory congestions, rheumatic or arthritic pains and muscular sprains.
As per Euromonitor 2015, the size of OTC analgesic market in India is about Rs 2,000 crore and has grown at a CAGR of 9.9