Sun Pharma enters dermatology segment

Mumbai, June 8: Sun PharmaceuticalIndustriessaidon Wednesday it had entered the dermatology segment as part of an initiative to further expand its retail offerings.

The world's fifth biggest genericdrugmakerlaunched a new dermatology product Suncros - a sunscreen brand which was earlier available only as a branded prescription product.

The product will form the fourth part of its global consumer healthcare business vertical which currently markets dietary supplements, analgesics and antacids.

The company also said it was evaluating options to grow the vertical further through new product categories and acquisitions.

“Suncros has an 18% marketshareandwearelookingat a 30% market share in two to three years,” Sun Pharma India Business chief executive officerAbhayGandhisaid.

The total sunscreen market in India is estimated to be worth R380 crore, growing at 25%,of whichone-thirdisthe prescription segment.

Sun Pharma entered the consumer healthcare business with the acquisition of Ranbaxy, which launched Suncros in 2005.

“When it comes to sunscreen, we had a choice between going in for Suncros and Photostable. Two things that went in favour of Suncros was that it was a decade old product while Photostable is relatively new.

“Even in terms of brand name and brand recall from consumer point of view, Suncros lends itself far better to consumer branding than Photostable would,” he added. Agencies