MindShare has bagged the AOR for Ranbaxy. Confirming this development, Ashutosh Srivastava, MD, MindShare, said, "MindShare would be looking after the media while the creatives would be handled by O&M and Grey".
MindShare, Delhi under the guardianship of Nitin Jain, will handle the account. Six agencies including FCB Ulka, Euro RSCG, MediaCom, O&M had pitched for the account about a month back. "The result of the pitch was shared last week only," says a cheerful Srivastava.
As reported by exchange4media last month, many traditional pharma companies are gradually shifting towards the over-the-counter (OTC) and ethical drugs segment, which allows plenty of room for advertising and plan to invest at least 100 crore this year as compared to the negligible media spent last year. And appointment of a media agency by Ranbaxy is definitely a step forward in this direction.
Sharing basis of this big win, Srivastava asserts, "We do Proprietary Research for consumer insights, which would prove to be beneficial for Ranbaxy as various pharma companies are aggressively becoming over-the-counter (OTC) players."
So far, pharma majors had distanced themselves from the ad world, because laws don''t permit advertising for prescription-based drugs. But now, with the gradual shift towards the OTC and ethical drugs segment, pharma companies are making plenty of room for advertising. Ranbaxy has announced plans to spend Rs 20 crore on advertising this year for its new consumer healthcare division and OTC products.
O&M will look after the umbrella brand, Ranbaxy Consumer Healthcare, and also draw a strategy for the launch of herbal products. Grey Worldwide will develop an advertising plan for the OTC range and MindShare will give the media support to Ranbaxy.