Atlas Laboratories and Pharmaceuticals Ltd has made announcement that the company is foraying into the Over-The-Counter (OTC) segment as it envisages to diversify its overall product portfolio up to 100 drugs by year 2009. 

While commenting on the plans, Mr. Ashwin Kapur, Executive Director of Atlas Laboratories and Pharmaceuticals (ALP) stated, “From the beginning of the next fiscal, we would have around 80-100 products under our portfolio and out of which 10-15 would be in the category of OTC segments.”

“OTC is growing at a much faster rate as compared to prescription-based drugs in India and there has been a global consumer trend towards it. This attracts us towards the OTC segment. We are expecting around Rs 100-120 crore turnover in the next fiscal out of which Rs 30-50 crore would come from the OTC segment.” Mr Kapur added.

According to the sources, the company will pump around 5-10 per cent of its sales on advertisements and brand building activities to establish its OTC products in the domestic markets.

The company is already having deep rooted presence in the prescription medicines segment with about 30 drugs across different therapeutical areas.