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news.India-based Elder Pharmaceuticals has launched Solo range of inhalers for nasal congestion, which comprises of Solo Rub, a pain balm, Solo Cough Drops and Solo lozenges for throat soothening.
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In order to boost its presence in the country’s rural markets, Elder Pharmaceuticals will make the new products available in smaller sizes as well.
Elder Pharmaceuticals managing director Alok Saxena said: "Rising cost of raw materials, competitive market conditions and over dependency on the urban markets had affected the sales of the company’s OTC products in the recent years.
"With focus on Price, product mix and penetration, Elder is set to regain its prime position in the OTC sector.
"The company has also lined up marketing strategies to offer combination products for an attractive price in order to lure the rural consumers to try out it new launches."
The company anticipates an 8-10% annual growth in the country’s nasal decongestion market and hopes to acquire a 7% share in the market by fiscal year 2018.