Ranbaxy Laboratories, the Rs 1,118 crores pharmaceutical major, is inviting advertising agencies to pitch for its soon-to-be-launched over-the-counter (OTC) and herbal products. According to the company the business is worth Rs 5 crores.
This is the first time the company is planning to launch an advertising campaign. The OTC and herbal brands is expected to be launched in six months time. The company is in the process of tying up with various partners to get into the herbal product category. The OTC and herbal products would be under the umbrella brand name, though a final decision is yet to be taken.
The company is hoping to achieve high volumes through these new products. The company is emphasizing on specialty branded products to generate volumes and boost sales, through generics.
Another pharma major, Morepen Laboratories has been aggressively promoting its OTC brand Dr. Morepen on the mass media.