NEW DELHI: The Supreme Court of India (SC) has ruled in favor of Saridon, a heritage brand from the healthcare product portfolio of Piramal Enterprises Ltd (PEL), exempting its formulation from the list of banned FDCs (Fixed Dose Combinations).
In September 2018, PEL had been awarded a stay order from the Supreme Court on the ban, which allowed it to continue manufacturing, distribution and sale of the FDC. Saridon, amongst the most trusted heritage analgesic brands in India, enjoys strong customer allegiance globally.
Commenting on the Supreme Court ruling, Nandini Piramal, executive director, Piramal Enterprises said, SC ruling is an affirmation to our commitment to provide effective and safe healthcare solutions that address unique needs of Indian consumers. We were confident that the law would prevail in our favour.”
She said Saridon is a heritage brand trusted by customers for the last 50 years in India. This exemption from the banned list of FDCs validates PEL’s intent to serve its customers with the highest levels of integrity. “We continue to expand our healthcare product portfolio with an aim to be amongst the top three OTC (over the-counter) product companies in India by 2020,” she added.
As per a recent study by A.C. Neilson, the addressable analgesic market is Rs 6,450 crore, of which the analgesic tablet market is Rs 2,050 crore (as of December, 2018). Saridon is amongst India’s most widely distributed analgesic tablets with a strong distribution network across 9 lakh outlets in India. The popularity of the brand is widespread with 31 tablets being sold every second (Source: A.C. Nielsen Retail Audit Dec 2017 – “Every second, 31 Saridon tablets are sold in India”).
PEL’s India consumer products portfolio comprises 18 brands with offerings spanning across multiple categories. The company said it aims to be among the top three over the-counter (OTC) product companies in India by 2020. Over the last two years, the business has invested significantly in various growth levers.