Arvind Remedies Ltd. Is all set to make a major foray into the burgeoning over-the-counter(OTC) segment with a range of 7-8 drugs and expecting Rs 100 croreturnover in the next five years time from this segment. The company is open to talks with interested foreign pharma majors to join hands in the sunrise biotechnology sector.

Talking to The Financial Express here on Thursday Arvind Remedies managing director Arvind Shah said that the company has set up a strategic business unit(SBU) for its OTC foray and would be rolling out its product in the market soon. The products on offer cover segments like pain management, stress management, skin care, nutraceutecals and diabetics control.

" The OTC market is currently valued at Rs 3,600 Crore and offers a good opportunity for growth. We are expecting a Rs 10 Crore business in the initial year which would be taken to Rs 100crore in coming five years," he said . Initially the companywould roll out its OTC drive in Tamil Nadu and Kerala markets and would soon expand to other markets as well.

The Company has also planned to have off the OTC business into a separate subsidiary once its business stabilises. "We may spin off the OTC SBU into a strategic subsidiary in two years time. The idea is to give the company focus on all its areas of operations, " he said.

The company's R&D Team is in the process of developing several other OTC drugs which would be rolled out in the market soon. The company has also plans to market its OTC products in the overseas market. " We have already filed necessary papers in Malaysia and Kenya. "We are hopeful of launching the products in these countries this year itself. We will also file papers with the Sri Lankan government for marketing our products there," he said.

Arvind Remedies is also planning to make a foray into the booming biotechnology business either by taking over as existing firm or by teaming up with a prominent foreign player.