NEW DELHI: Madison Media today said it has bagged the media account of pharma major Piramal HealthcareBSE 0.04 % in a multi-agency pitch.
While it did not reveal the tenure and value of the contract, Madison Media said the account was previously handled by Lodestar and the estimated size of the account is Rs 70 crore.
"The account was won in a multi agency pitch where Optimum Media Directions and MPG Media also participated in the pitch," the company said.
Commenting on the development, Kedar Rajadnye, COO Piramal Healthcare said: "Given our ambitious plans, we wanted to enhance our current capabilities in media strategy and buying front ... Madison Media fitted very well in the requirement of our scheme of things as we were very happy to see their approach being very similar to our mindset."
Piramal Healthcare, after selling its domestic formulation business to Abbott in 2010 is aggressive in the OTC (over the counter) segment.
It recently introduced skin creams under its Lacto Calamine brand and plans to launch several other brands as well in the healthcare space.
Madison Media has a gross billing of approximately Rs 3,000 crore and handles media planning and buying for a host of firms, including AirtelBSE -0.49 %, Godrej, Cadbury/Kraft, ITC, General Motors, McDonald's, Levis, SpiceJetBSE 1.48 %, Domino's, Bharti AXA, Max Life Insurance, Tata Salt and Crompton Greaves.