Nirma’s tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife.
Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
“The price disruptor strategy that worked wonders in the detergent space, when Nirma took on the likes of Hindustan Unilever, did not work as expected in pharmaceuticals,” says a