Hamdard (Wakf) Laboratories, one of the pioneers in Unani medicines, has announced its foray into lifestyle and wellness space by unveiling a number of OTC products for lifestyle disorders.
The company on Tuesday launched two products and announced to add eight more patented products in the next two years. It already has 600 products in the consumer, OTC and traditional medicine categories. The company said it would double its OTC revenues and take the group's sales to Rs 500 in two years from the current level of Rs 300 crore.
The company unveiled Lipotab, a natural formulation for managing cholesterol problems, and Jigreen, the clinically tested formulation for treatment of liver disorders including hepatitis under its new brand range 'Nature Wonder'. It has chalked out plans to enter new markets and strengthen itself in the weaker markets in the coming years, company chief marketing officer Ashad Siddiqui said at a press conference.
Company director Asad Mueed said the organisation had a robust pipeline and would be bringing out new products targeting the lifestyle disorders like heart disease, hypertension, obesity and diabetics in the coming years. "Our decision to expand the consumer healthcare portfolio is aimed to offer Unani products in contemporary formats to modern day consumers. We have strong budget for our R&D efforts and clinical tests were going on in our three hospitals," he said.
Hamdard is targeting a topline growth of 67 per cent over the two years. It is expecting a total revenue of Rs 500 crore by 2011 through a four-pronged strategy of introducing new products, entering new geographies, regaining former strongholds and brand extension of hero brands, according to Siddiqui.
Hamdard, which took a modest beginning as a clinic in 1906, at present enjoys 75 per cent share in the Unani medicines market in the country.
It has three GMP-certified manufacturing facilities. The company officials said they were also looking into the possibility of entering the international market in the coming years.