Harcourts Pharmacy to expand network in 2016

Tuesday, 19 January 2016 01:01 - - {{hitsCtrl.values.hits}}

The Harcourts Pharmacy chain, the biggest network of its kind with 35 dedicated pharmacies will expand its network to 50 by the end of 2017.

Speaking at a press conference in Colombo, Harcourts Chairman Ahmed Rheyas stated that even though the bottom line is very

15-06

thin, he still prefers to continue its venture due to acceptance and patronisation of the public.

“A footfall of more than 10,000 customers patronise Harcourts Pharmacy daily not only to purchase medicine but to happily avail the value added services provided by us such as door to door delivery, E-Channelling and the convenience of paying mobile payments, lease payments, insurance payments, utility bill payments and donation payments through our newly installed Pay & Go machines at selected branches.

“We as a mass marketing chain have spread our wings to various parts of the country including the major cities like Kandy, Anuradhapura, Gampola, Ranawana, Dambulla, Ratnapura and Negombo catering to customers in the urban and rural area as well.

Even with the dearth of qualified pharmacy staff, we are managing to provide our loyal customers the best at all times,” he said.

Harcourts rebrands, relocates and focuses on core business pharma brands

Harcourts Ltd., a 27-year-old pharma company relocated its head office from Dehiwala to Gansabah junction, Nugegoda.

Speaking at the opening ceremony Harcourts Chairman Ahamed Rheyas stated that Harcourts will focus more in the pharma in addition to cosmetics and personal care, which also contribute 40% of his total turnover.

Representing many pharma manufacturers from India, Pakistan, Australia and UK the Chairman stated that from this year onwards, more focus will be to develop brands and not concentrate on generics. Generic is a very competitive business with more and more players entering the market daily and out of the $ 375 million market 40% are branded items while 60% are generics.

Due to high cost of the branded drugs and vitamins many patients in this country are opted to purchase generic brands and also enjoy free medicine from Government hospitals. But still majority of doctors prescribe the branded drugs due to its guaranteed quality and efficacy and the branded business is still growing at 10%, even in spite of the new ‘NMRA’ initiated by the new Government just this year. Most people are also interested on brands that they are used to and today the patients are more knowledgeable compared to 10 years back, said Rheyas, commenting on the Harcourts way forward for year 2016.