<div><em>The Indian Consumer Healthcare market is currently a $4 billion market and is growing at about 15 per cent annually, says <strong>CH Unnikrishnan</strong></em><br><br>Drug maker Cipla Ltd said on Tuesday (21 July) that Fidelity Growth Partners India and US-based Fidelity Biosciences have made an investment in its newly launched consumer health Care (CHC) business. </div><div> </div><div>The consumer health business, which is part of its new initiatives under Cipla New Ventures headed by promoter Y K Hamied's niece and the company's executive director Zamina Vaziralli, has been mainly targeting India's growing over-the-counter market in the healthcare space. </div><div> </div><div>“Partnering with a long-term strategic and financial investor like Fidelity Growth Partners on this journey will help us create a best-in-class consumer healthcare business," said Vaziralli on Tuesday. </div><div> </div><div> “Over-the-counter consumer healthcare is a nascent but rapidly growing market in India, and one we are very excited about," said Raj Dugar, senior managing director, Fidelity Growth Partners India. </div><div> </div><div>He added that this is a unique opportunity for us to partner with Cipla, a company that has long been associated with changing the paradigm of care to build a robust platform that delivers differentiated, high quality products for the Indian consumer. Using our combined knowledge and resources, we intend to provide OTC products that will bring significant benefits to the consumer. </div><div> </div><div>The Indian Consumer Healthcare market is currently a $4 billion market and is growing at about 15 per cent annually. It is expected to be a $10 billion market by 2020, according to industry estimate. Cipla’s CHC division recently launched its first product Nicotex, a gum which helps smokers quit the habit. This product is a switch from our prescription business and has had a very successful launch in the South of the country.</div><div> </div><div>Cipla managing director and global chief executive Subhanu Saxena said, "It is great to see Cipla in consumer healthcare. It has been my aspiration since joining the Company that every person in India should have access to Cipla’s healthcare products that are available at a price affordable to them."<br> </div><div>The consumer healthcare business will help us to achieve this vision faster. This partnership with Fidelity clearly reinforces trust in our vision of having a word-class consumer healthcare business,” he added. The private investment from Fidelity in Cipla's consumer healthcare business is subject to execution of definitive agreements and regulatory approvals and it will come through Fidelity's Mauritian investment arm FIL Capital Investments (Mauritius) II Limited or its affiliates.</div><div> </div>
