According to Mr Santhanam, the mass market division is doing well and the company hopes to double its revenue from this segment in the next fiscal to Rs 320 crore. Last year, the company earned Rs 40 crore from this division, he said. To expand its diagnostic services centre network through the licensing route, the company is currently in talks with two companies.

He said the size of the mass market pharma products is around 13 per cent of the overall pharma market size of Rs 34,000 crore. In the mass market segment the company is present in anti-infective and short-term prescription categories.

On its pharma solutions division, Mr Santhanam said the company has tied up with innovator pharma companies such as Hoffmann La Roche, Astra Zeneca, Allergan and Pfizer to manufacture and supply products for their brands. The company has so far invested Rs 800 crore in this division for creating facilities in India and abroad.

With likely inventory correction by those innovative pharma companies, the growth will slow down during the next fiscal too. He said, the Rs 1,500-crore Piramal Healthcare is expected to register 10 per cent growth this year as against 15 per cent last year.