Arpan Jennifer Vimal in conversation with Dr. Huzaifa Khorakiwala, Executive Director, Wockhardt Limited and the promoter of Wockhardt Group – a leading pharmaceutical and healthcare group.
How does Wockhardt constantly generate trust with the consumer according to the mission and values of the brand?
A castle is developed over a period of time. When you commit something you deliver on that commitment and when you keep delivering the commitment on time it is when the trust builds up on the brand. The most important thing about the trust is that there is something that you are promising to give, to achieve or to deliver and when you meet the expectations, you have kept the trust of the various stakeholders whether they be the customers, the suppliers, the investors or whoever it might be. Trust is built over a span of time.
What are the top most challenges in the Indian healthcare market?
Healthcare sector faces many challenges some of them include: how to provide healthcare for the poorest people. India has very high poverty rate and very low income level. To provide healthcare to the bottom of the pyramid population and to reach out to the most remote villages of India is among the biggest challenges of the healthcare sector. Further, there are many unmet needs and many types of diseases with no cures which are a great threat to India. The challenge is in meeting those needs of medicine and technology.
How does the brand Wockhardt hold its legacy and maintain its market position as compared to the competitors?
The brand Wockhardt begot quality and trust over a period of time. We always try to deliver quality. We don’t compromise quality for economic consideration and through that we have become a trusted name over the last three decades.
What are the Wockhardt’s contributions to the Indian market in the industry redefining new innovations?
Wockhardt have made many contributions to the Indian healthcare market. We have come up with good quality medicines; we are present in very large therapeutic area; we are among the few companies which have taken the Indian Pharma Industry abroad with a very good presence in Europe, United Kingdom and United States. We are on the verge of drug discovery basic research and we have a very important biotechnology portfolio. Besides pharmaceuticals we are also in healthcare and hospitals. We operate 9 hospitals.
What are the values and ethos of Wockhardt?
The value of Wockhardt can be divided into three key points. These are, Research which drives all that we do, Quality and Trust of all the stakeholders.
With the epitome growth of the healthcare industry in India. What are the key strategies Wockhardt is opting to stay as the market leader?
In the Pharma business our strategy is to have quality and in hospitals, our strategy is to achieve optimum healthcare delivery.