Last Updated:
Surana, who worked as an audit associate at EY in London told News18 that her company continues to position Dolo 650 as a prescription medication, while strategically transitioning Dolo 500 to the over the counter (OTC) segment.
Diya Surana, head, strategy, digital transformation and OTC wellness, Micro Labs, the maker of Dolo. (Image: News18)
As lifestyle diseases continue to rise, Micro Labs, the maker of Dolo, is expanding its focus on its newly structured wellness segment.
The company is capitalising on the popularity of the Dolo brand by launching an over-the-counter segment under the same name such as Dolo pain relief spray, Dolosils Cough Lozenges or Dolo Fevometer. “From lozenges, gel sprays, thermometers, antacids, and nicotine gums, we are significantly expanding our wellness product offerings. This strategic move aligns with the growing demand for lifestyle solutions, complementing our existing focus on chronic disease therapies,” Diya Surana, head, strategy, digital transformation and OTC wellness, Micro Labs told News18 in her first exclusive interaction.
Bengaluru-based formulations and active pharmaceutical ingredients (API) manufacturer Micro Labs is a popular prescription-based brand and a year back it ventured into the over-the-counter market with the vertical Micro Wellness.
“While Micro Labs has a strong foundation in treating chronic diseases, we recognise the increasing prevalence of lifestyle ailments. Our entry into the OTC category last November marked a significant step in addressing these needs,” said Diya, the only child of Dilip Surana, the chairman and managing director of Micro Labs.
Diya returned from the United Kingdom after completing her studies in accounting and finance at Warwick Business School. She then took on the role of leading digital marketing at the firm. Currently, Diya is spearheading the firm’s expansion into the OTC segment, with several product launches planned for the coming year.
Surana, who worked as an audit associate at EY in London, told News18 that the company continues to position Dolo 650 as a prescription medication, while strategically transitioning Dolo 500 to the OTC segment.
Dolo 650 gained immense popularity during the COVID-19 pandemic as a widely used medicine for managing fever and mild COVID symptoms.
Strong growth expected from wellness vertical
In the coming years, the company expects promising growth from the newly formed wellness vertical. “We expect strong growth from our newly established wellness vertical. With a robust manufacturing capability in chronic disease treatments, including cardiology, diabetes, and ophthalmology, we aim to deepen our presence in tier II and tier III cities, while continuing to develop innovative specialty drugs,” Diya said
The company may enter the multi-vitamin and mineral supplements category as well. “With a strong pipeline of products in the wellness segment, the market can expect multiple launches in the coming months,” she said without divulging more details on products.
The wellness segment offers a “promising growth opportunity”, she said while adding that the company plans to calibrate its investments carefully over the next 3–5 years. “We aim to achieve a double-digit market share in the pain management category within this timeframe, and we are confident in our ability to reach this milestone,” she said.
According to a market research report by Insights, by 2030, the Indian nutrition and supplements market is projected to grow from $6.94 billion (approximately Rs 58,000 crore) in 2022 to $16.57 billion (Rs 1,39,000 crore), reflecting a compound annual growth rate of 11.5 per cent between 2022 and 2030. The report said that the market is largely dominated by domestic companies such as Hindustan Unilever Limited, Dabur India Ltd, Cipla Limited, and Zydus Wellness Limited.
Key factors driving this growth include streamlined manufacturing processes, rising consumer awareness, and increasing disposable incomes.
