Herbal medicine maker Ouay Un Osoth eyes Asean
Ouay Un Osoth, a manufacturer of herbal medicines and supplements for more than 67 years, has set aside a marketing budget of Bt10 million to rebrand and launch new herbal products during the remaining months of the year.
This is part of its effort to boost revenue to Bt300 million this year, up 20 per cent from last year. The company also aims for growth of 25 per cent in 2015, the company’s assistant managing director and human-resources director, Nicha Somboonvechakarn, said at press conference yesterday.
The company is aiming to increase its sales in drugstores nationwide, to penetrate modern trade channels such as convenience stores and to increase its use of social media as a marketing tool. The firm is expanding its factory to support the anticipated growth of the herbal-products market under the Asean Economic Community (AEC), she said.
The company’s technical director and import-export manager, Chanun Somboonvech, added that next year it would build new factory facilities to support the sales growth through AEC markets. It is keen to promote these products via all available channels, and its goal is to make Ouay Un the first herbal brand in the minds of customers.
At present the company exports capsualised medicinal herbs such as moringa, turmeric, Andrographis paniculata and Garcinia atroviridis to Romania, Austria and Israel. The products are certified safe by each country and have registered trademarks in all of them.
“We believe that the AEC will boost [sales of] our herbal lozenges, Khao Kui Water and Maveng Cough Syrup products in neighbouring countries, especially Laos and Cambodia,” Chanun said. “Hence it is important for us to maintain our research and development capabilities and the quality control of our raw materials and customer service.
“We are certified Asean GMP [good manufacturing practice], which is the highest standard in traditional medicines, and we are the only herbal manufacturer to quantify medicinal compounds in herbs using high-performance liquid chromatography, or HPLC.
“Although Ouay Un has seen many changes in drug formats and the innovation of manufacturing techniques, we still maintain the traditions of ‘Ouay Un Osoth’, which means ‘Clean and Safe’ in the Chinese language. It reflects our philosophy and desire to retain value and peace of mind for our customers,” Chanun said.
