Driven by new product launches and focus on areas like women’s health care, cardiology and diabetes, German drug firm Merck KGaA on Monday said its expects sales revenue to grow by 20 per cent in the next three years in India.
The company that is present in both over-the-counter segment and prescription based medicines segment said it expects the two segments to drive growth equally.
“We want to grow (sales) by 20 per cent minimum in the next three years and grow organically,” said Mr Marek Dziki, Managing Director, Merck Ltd.
The company, which is present in India through Merck Ltd, posted revenues of Rs 509.08 crore for the calender year ended 2010. The company is yet to declare the results for 2011.
Apart from enhancing its consumer healthcare division portfolio, which it launched in 2007, the company is also looking to augment its pharmaceutical division.
“We are focusing on women’s health care, cardiology and diabetes. Next 12-18 months could see few introductions (product launches),” Mr Dziki said without sharing details.
Currently the company markets various products including, Polybion and Evion in the country.
Mr Dziki ruled out acquisitions for the desired growth and added the company planned to grow organically in the country based on its research and development prowess.
“We are looking at 10 per cent market share in 2012 and then want to take it towards market dominance,” said Mr Ashish Bhatt, Business Head Consumer Health Care, Merck Ltd.