New Delhi : Drug major Sun Pharmaceutical Industries today announced the launch of its sunscreen brand 'Suncros' through the company's Global Consumer Healthcare business vertical. e product is currently sold as a prescription product and now will be sold through both prescription and OTC mode. The company will focus on dermatology as the fourth engine of growth for its OTC business, Sun Pharma said in an interview.
The market size of sunscreen creams is estimated at around Rs 380 crore and growing at around 25% a year. Nearly two-thirds of it is in OTC segment and with this strategy Sun Pharma wants to expand the sales of its product. Abhay Gandhi, CEO-India business, Sun Pharma, said the company is aiming for a 30% market share for Suncros in the segment over the next few years.
The company has also signed former Miss India and actress Dia Mirza as Suncros' brand ambassador. Sun Pharma is rolling out three variants of the Suncros brand through the Global Consumer Healthcare business, it added. Shares of Sun Pharmaceutical Industries were today trading at Rs 738.50 per scrip in afternoon trade on BSE, down 0.04% from its previous close.