Venus is eyeing Rs 25 crore from the sale of this new product from a market that pegged at Rs 100 crore. "We believe that we would be able to acquire around five percent of its share within three years of its launch," he said.
Aggarwal expects margins for Venus to improve ahead.
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Below is the verbatim transcript if his interview on CNBC-TV18.
Q: What do you think will be the addition that this stress reliving candy can bring to Venus Remedies sales?
A: We are proud of this launch as our first OTC product. The stress reliving market in India is a USD 100 million market. We believe that we would be able to acquire around five percent of its share within three years of its launch. This means around Rs 25 crore of revenue can be tapped from this product.
Q: Isn't the sales outlets and procedure for an OTC drug different from that of non-OTC drugs, where your targets would be doctors? Are your prepared for an OTC drug or will there be an additional marketing expense?
A: We are prepared for this; we already have a strong network of pharmacies associated with us for past so many years. We are planning to tap around 50,000 pharmacies for this purpose and efforts would also be helped by aggressive online marketing. We will have our own portal to sell this online.
Q: Would you have advertisements? Would you have that kind of marketing expenses?
A: Marketing expenses would be in line of expectation of top-line. There will definitely be advertisements and marketing on FM radio and other communications.
Q: Would your margins be trimmed down a bit if you have to spend on advertising as well?
A: Generally as well when a pharma company reaches to doctors, even then marketing expenses are there.
Q: You don't see your margins falling from the 26 percent that you posted?
A: Margins would certainly improve because this is a research and development (R&D) product. This is a unique product, which is a strong detoxifier. There is no competition for this product. This is the first time a company has done R&D of this kind.
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