Traditional medicine maker Hamdard is looking to further diversify its product offerings by entering new consumer segments.
In a conversation with IANS, Hamdard Laboratories President Abdul Majeed confirmed the company’s plans to introduce new offerings in the form of facial cleansers, shampoos and oral hygiene products.
“We are currently working on new consumer products. Those products that are readily acceptable to the new generation of millennials,” he said.
In addition, the company is working on products based on medicinal oils that are even safe to consume.
“We are working on products based on medicinal oils. Currently, we manufacture at least 28 different types of oils in Unani medicines that have therapeutic value. We are looking at five or six areas (products) based on these oils. “
According to Majeed, Hamdard is evolving into a company that provides holistic health solutions to consumers, whether in any format, for which there is a need to enter new segments.
“We need to prove the benefits of our Unani and herbal medicines in new formats, so that we can prove their effectiveness.”
At present, besides Unani drugs, the company manufactures ‘Chyawanprash’ among other supplements.
“As the market progresses, you have to follow the trend. So now that we have improved our R&D for the same, we have good consultants, who help us develop these products.”
“We started with an investment in R&D of at least 2% of our turnover. Over the next five years, it will increase from 5 to 6% year-on-year. It will be more than Rs 100 crores.”
Furthermore, he pointed out that the pandemic has shown the strength of Indian traditional medicines in boosting immunity.
“Both – Ayurveda and Unani – medicines were of great help in boosting immunity during Covid. In a country like India, the immune element was led by traditional medicines, while the other part of the fight was led by vaccines and antivirals that were available.”
“This pandemic has made everyone aware of the importance of traditional medicine and how it can help in the fight against this virus. The pandemic has widened the scope of information available on traditional supplements.”
Regarding the current wave of the pandemic, he said later phases should be moderate, but safety protocols should still be followed.
(Rohit Vaid can be contacted at [email protected])
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