KARACHI: Hamdard Laboratories Pakistan – a leading manufacturer of herbal medicines – planned a complete rebranding and revamping as the demand of ayurvedic remedies and nutraceuticals continues to expand rapidly across the world, the company’s top official said on Thursday.
Usama Qureshi, managing director and chief executive officer of Hamdard Laboratories said a lot of players have entered the eastern medicine and herbal goods market and are posing tough competition to the company. “Our competitors are upgrading, so we decided to modernise ourselves without compromising the core values,” Qureshi told The News.
He said Hamdard is investing in research and development and would soon launch a wide range of new products.
Qureshi did not disclose the investment allocated for the revamping exercise. Nor, he disclosed the company’s revenue or profitability since Hamdard Laboratories (Waqf) is registered as a non-profit company.
The lab’s chief, however, said the company retains its market share “and in 2017 Hamdard broke all its previous records pertaining to sales and profitability.” Qureshi said the world is fast moving towards herbal and eastern medicines, while most of the synthetic pharmaceutical companies have established herbal wings.
“We understand that times are changing and so should we, and that change has to reflect in our progressive approach… what we do at Hamdard while preserving our values,” he added. “We are embarking on a new journey, another new beginning.” The company’s logo has already been modified.
Hamdard Laboratories have three units, including fast moving consumer goods, over-the-counter goods and retail comprising health centers.
Its product range includes Rooh Afza, tooth paste, instant Joshanda and Ispaghol (husk), which the company planned to launch honey in the first phase.
In addition to prescription medicines, Hamdard also manufactures a long range of over-the-counter goods. “We have developed a research and development department involving experts to meet the demand as many people are now resorting to these products for treatment of various health challenges.” Hamdard also planned to revamp and modernise its retail health centers (Matabs).
There has been a tremendous surge, over the past couple of years, in acceptance and public interest in natural therapies both in developing and developed countries, with the herbal remedies being available in drug stores as well as in food stores and supermarkets.
“The rebranding initiative will not just emphasise our traditional strength, values, reputation, and credibility in the world, but will also reflect our resolve to embark into the future with newfound vigour,” Qureshi concluded.