Surana, who works as an audit associate at EY in London, told News18 that his company continues to position Dolo 650 as a prescription drug, while strategically transitioning Dolo 500 into the over-the-counter (OTC) segment.
As lifestyle diseases continue to rise, Dolo maker Micro Labs is focusing on its newly formed wellness segment.
The company is capitalizing on the popularity of the Dolo brand by launching an over-the-counter segment under similar names such as Dolo Pain Relief Spray, Doloseals Cough Lozenges or Dolo Favourometer. “From lozenges, gel sprays, thermometers, antacids and nicotine gum, we are significantly expanding our wellness product offering. This strategic move aligns with the growing demand for lifestyle solutions, which complements our existing focus on chronic disease therapies,” Dia Surana, Head, Strategy, Digital Transformation and OTC Wellness, Micro Labs told News18 in her first exclusive interaction.
Bengaluru-based formulations and active pharmaceutical ingredients (API) manufacturer Micro Labs is a popular prescription-based brand and entered the over-the-counter market a year ago with vertical Micro Wellness.
“While Micro Labs has a strong foundation in treating chronic diseases, we recognize the growing prevalence of lifestyle ailments. Our entry into the OTC category last November marked an important step towards meeting these needs,” said Dia, only child of Dilip Surana, Chairman and Managing Director, Micro Labs. said.
Dia returned from the United Kingdom after completing her studies in accounting and finance at Warwick Business School. She then took on the role of leading digital marketing at the firm. Currently, Dia is spearheading the firm’s expansion into the OTC segment, with several product launches planned for next year.
Surana, who works as an audit associate at EY in London, told News18 that the company continues to position Dolo 650 as a prescription drug, while strategically transitioning Dolo 500 to the OTC segment.
Dolo 650 gained a lot of popularity during the COVID-19 pandemic as a widely used drug to control fever and mild COVID symptoms.
Strong growth is expected from the wellness vertical
In the coming years, the company expects promising growth from the newly formed wellness vertical. “We expect strong growth from our newly established wellness vertical. With strong manufacturing capabilities in the treatment of chronic diseases including cardiology, diabetes and ophthalmology, we aim to deepen our presence in tier II and tier III cities, while continuing to develop innovative specialty drugs,” said Dia.
The company may also enter the multi-vitamin and mineral supplements category. “With a strong pipeline of products in the wellness segment, the market can expect multiple launches in the coming months,” she said without disclosing more details about the products.
The wellness segment offers a “promising growth opportunity”, she said, adding that the company plans to carefully calibrate its investments over the next 3-5 years. deadline, and we are confident in our ability to reach this milestone,” she said.
According to a market research report by Insights, by 2030, the Indian nutrition and supplements market is projected to grow from $6.94 billion (approximately Rs. 58,000 crore) to $16.57 billion (approximately Rs. 1,39,000 crore) in 2022, reflecting a compound annual growth rate. 11.5 percent between 2022 and 2030. The market is largely dominated by domestic companies such as Hindustan Unilever Limited, Dabur India Limited, Cipla Limited and Zydus Wellness Limited, the report said.
Key factors driving this growth include streamlined manufacturing processes, increasing consumer awareness and rising disposable income.