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Monday, June 18, 2007

Plethico launches Coolz to take on Eno

Plethico Pharmaceuticals has launched Coolz, an over-the-counter product, to take on Eno, which is a leading market product for curing acidity.

"Our study shows that Eno has a business of Rs 20 crore and is a monopoly in the acidity curing drug segment," Plethico Chief Financial Officer Sanjay Pai told.

Launching Coolz was in tune with Plethico's strategy of introducing products where there was a monopoly, he said.

To counter Eno, Plethico has launched Coolz in three flavours: jal-jeera, plain and lemon. The pharma company has invested close to Rs 10 crore for Coolz and once the Indian market stabilises, it would take the product to other markets too, Pai said.

The company, with consolidated revenues of Rs 375 crore, is trying to spread its wings in lucrative markets. As a first step, Plethico is busy combing the US market for a USD 100 million acquisition.

Plethico, which specialises in herbal and neutraceutical products, would be looking for a company in the same segment for acquisition in the US, Pai said.

After the US, it would look at Europe, he added. The company is eyeing Rs 1,000 crore in revenues by 2009-10 and expects the US acquisition to help it reach the target, Pai said.

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