The acquisition of ‘i-pill’ will strengthen Piramal’s OTC portfolio which has consumer brands such as Lacto Calamine skin care range, Supractiv Complete, Saridon and Polycrol antacid.
‘i-pil’ is an emergency contraceptive pill (ECP) used to prevent unplanned pregnancy and is available over the counter at local chemists. ‘i-pill’ contains Levonorgestrel, a progestogen which helps prevent unwanted pregnancies if taken within 72 hours of unprotected sex.
Swati Piramal, executive director of strategic alliances and communications at Piramal Healthcare, said: “i-pill magnifies the indomitable spirit of the new Indian woman who is resilient in the face of every adversity. It empowers Indian women to remain in control of their future without resorting to emotionally and medically stressful alternatives like abortion.”
Amar Lulla, joint managing director at Cipla, said: “In 2007, we had created ‘i-pill’, OTC emergency contraceptive brand. Our decision to divest the brand is driven by our current domestic product portfolio focused on prescription drugs. We are pleased that another Indian healthcare company with a strong OTC portfolio has bought the brand and are confident that Piramal Healthcare will successfully accelerate the future growth of the brand.”
Ajay Piramal, chairman of Piramal Healthcare, said: “We believe the OTC segment is still in its nascent stages in India and presents us with high growth opportunities. In particular the ECP segment which is approximately a Rs 100 crores industry and has grown by 250% in the last two years.”