Himalaya Drug Company exports around 60 products from its therapeutic and personal care range to the Commonwealth of Independent States (CIS).
The CIS region offers huge potential for herbal drug manufacturers since these countries already have a long tradition of using herbs for medicinal purposes. In recent times the demand for well-researched herbal medicines is increasing as more and more doctors practising allopathic medicine are open to prescribing herbal medicines to their patients, Philipe Haydon, President & CEO, Pharmaceuticals, Asia Pacific, The Himalaya Drug Company.
"Our flagship product Liv 52 is doing exceptionally well in the CIS market and has become a household name. Both general practitioners and specialists prescribe the product. Tuberculosis specialists recommend Liv 52 to protect liver from anti-tuberculosis drug toxicity. The efficacy of Liv 52 is supported by studies conducted in Moscow, St Petersburg, Novosibirsk, Moscow Medical Academy, Scientific Research Phthisiopulmonology Institute," he added.
Cystone is equally popular in Russia. This product is mainly prescribed for the treatment of urolithiasis and inflammatory diseases of the urinary tract. Cystone is the leader among herbal formulations prescribed for this condition. Its efficacy has been proven in more than 100 clinical studies including clinical trials done at leading hospitals in Russia.
Other products being marketed in this region include Septilin, Rumalaya, Pilex, Tentex Forte and Speman.
"The success of our therapeutic range has worked as a catalyst for us and we are now looking to introduce more products in these markets including multi-ingredient pharmaceuticals and our Pure Herbs range (single ingredient capsules)," stated Hayden.
The key achievements in the CIS market are that Himalaya ranks 4th among Indian pharmaceutical companies in the Russian market. The company has recorded high growth in terms of value as well as unit sales in 2007. Cystone is the top herbal therapy for kidney stones (urolithiasis) and cystitis. Liv 52 ranks fourth among all hepato-protectors available, and second among herbal hepato-protectors. Speman ranks third among tablets for prostatic disorders.
Providing an overview of the regulatory environment for herbal drugs in CIS region, Hayden stated that the guidelines for registration of Ayurvedic products, as medicine, are stringent. There is no international pharmacopoeia for poly-herbal products. The comparison/similar registration requirements for allopathic products are insisted for herbal products. In addition, the dossiers need to be prepared in vernacular.
Further, there is also a need to submit extensive supporting documentary evidence including local clinical studies done in the CIS region.
Himalaya does not have a regional office in the region, but has a partner for both Russia and the CIS region. It has built a strong local distribution network.
Ayurveda is gaining popularity in Russia and the CIS region. The medical fraternity is also open to using complementary and alternative medicines, as long as the safety and efficacy of the formulation can be well-established. Himalaya's unique selling proposition is our 'head-to-heel' product portfolio and rigorous research backing each and every product. The blend of tradition and innovation in Himalaya products also adds to its widespread acceptance.
``Our future plans for the CIS markets include consolidating the current portfolio of products within pharma, launching products that are already established in the Indian market and introducing new innovative products. Within the pharmaceutical space, we will also explore new therapeutic segments like lifestyle disorders,'' stated Haydon
A close evaluation of the CIS market reveals a hugely untapped market segment for herbal medicines. The concept of herbal, natural and nutraceutical is very well accepted and people are looking for products that deliver on their promise.
Until recently, herbal medicines were viewed as 'alternative' treatment options. However, this scenario is changing and scientifically backed herbal medicines are being accepted as the first line of treatment or as complementary treatments in several cases. There is a growing movement towards medical pluralism and this offers a great opportunity for Himalaya since we develop herbal medicines that are backed by scientific research and are highly efficacious, he said.
The pharmaceutical market in the CIS region and Russia is dominated by several leading international players. Acceptance of international products is therefore on the rise. There is a steady increase in the number of Aptekas (pharmacies) facilitating better reach and access. The growth of regional pharmacy chains is a positive development as it promotes price competitiveness and makes several products available under a single roof. Quality of products is also maintained. Consumer awareness of herbal medicines is on the rise with media constantly covering this subject.
Purely from the geographic standpoint, the market is vast, covering several different time zones. This poses a huge logistic challenge requiring a strong distribution and marketing network.
The market is crowded with new players and it is therefore a highly competitive business environment.
However, Himalaya's long-time presence in the region gives the company a distinct advantage over several new entrants. Products like Liv 52 and Cystone have already built significant credibility for the brand, making it relatively easier for us to gain acceptance in the CIS, informed Haydon.