According to P. D. Narang, Group Director, Dabur India, the deal is part of an aggressive strategy to build a strong OTC health care business and to strengthen the firm"s portfolio in this segment.
“30-Plus" brand is an herbal revitaliser capsule and is one of the apex brands of Mumbai-based Ajanta Pharmaceuticals. The pill is being marketed since 1990 and it is targeted at the male audience who are above 30 years of age. Since launch, the 30-Plus brand has been a runaway success in the Indian market.
Dabur has identified health care as a crucial growth driver for its business in the coming years and is focussing on grabbing viable opportunities.
Recently the company outpaced industry estimates to post positive fourth quarter figures. On the back of strong demand and effective cost saving strategies, the firm reported an 8.5 per cent Y-o-Y growth in fourth quarter consolidated net profit to Rs 147.01 crore. In addition, for the quarter it posted a 30 per cent Y-o-Y rise in net sales to Rs 1,108.22 crore.
On Tuesday at the Bombay Stock Exchange (BSE), stocks of the firm closed trading at Rs. 100.10 down by 0.89 per cent or by Rs. 0.90. The stock saw an intraday high of Rs. 101.30 and a low of Rs. 99.25.