How has Millennium Herbal Care evolved into the company it is today?

Millennium Herbal Care has focused on Vedic medicines for the past 20+ years. The company started with a small selection of products targeted towards certain chronic ailments. From there, we have grown the portfolio into Ayurvedic medicines, personal care products, and lifestyle management supplements. We operate in nine therapeutic categories, including ortho, fertility, digestive, skin and hair, cardiac, and mental health. We are also entering the wound care and wound management space, and we recently completed a clinical study for a natural spray used on veinous and diabetic ulcers with an excellent response rate towards the recovery and repair of those wounds. Millennium Herbal Care has also developed a CDMO business in topical anti-fungals and cosmeceuticals, which supplies white labeled products to the dermatology divisions of large Indian pharmaceutical companies. This portion of our business is growing very rapidly, and it is where we invest around 70% of our R&D funds.

Have you noticed a shift in consumer behavior towards nutraceuticals in recent years?

We are currently in the third wave of demand that has occurred for naturals (herbals) and nutraceuticals over the past two decades. In India, we did not see proper large-scale usage of nutraceuticals or alternative medicines until the onset of Covid-19. The pandemic led to a shift in people’s perspectives as they now see they can act on their health on a preventative basis through prophylactic means. Rather than turning to pharmaceuticals as immediate solutions to their problems, they can treat the root cause of the illness via a safer, long-term solution. Beyond the shock of Covid-19, chronic ailments are becoming more prevalent, and pharmaceuticals do not necessarily have clean solutions for many chronic health issues. Even if you look at something as simple as high cholesterol, the patient is prescribed statins, which have side effects. This is where herbals and nutraceuticals have a large role to play, and there has been a change in attitude both at the medical professional and at the patient levels.

Whose responsibility is it to help educate consumers on the benefits of nutraceuticals?

Nutraceuticals and herbals deserve their own place within the life sciences. Unlike allopathic medicines that are only consumed for a particular duration, nutraceuticals, herbals and probiotics should be seen as supplements that can be used as a lifestyle addition to meet dietary shortages. We are still waiting for this mindset shift to occur in India to the extent that it has happened in the West. I see this as a responsibility of alternative health companies to educate consumers on preventative medicine, an area the pharmaceutical industry is failing at. Additionally, when somebody does fall ill, they need to be informed of the personal care tips and dietary changes they can make. In this regard, the government is also responsible given its duty to care for its citizens’ health. Third, doctors are still seen as the authority for health and wellness, and I believe they need to have a more open mind for all solutions. I hope the next generation of healthcare practitioners will have the basic knowledge and moral responsibility to give their patients more long-term solutions recognizing that there are instances where drugs can be replaced or supplemented with evidence-based herbals and nutraceuticals.

How has your company’s approach towards clinical validation facilitated its growth in export markets?

Millennium Herbal Care exports to around 22 countries. One of our differentiators is we do not play as pure herbal player in these countries because most of our key products are backed by clinical studies. We have approached therapeutic medicines with similar levels of data and analysis as on the pharmaceutical side, which has helped us register our products across different geographies.

Can you outline the goals of Millennium Herbal Care’s online platform providing access to consultations with the company’s in-house Ayurvedic doctors?

The life sciences industry is moving towards more personalized medicine. In a way, this is a shift back to how medicine was practiced thousands of years ago before the world assumed a more one-size-fits-all model. With our platform, we offer consultations that go beyond prescribing supplements and nutraceuticals to offer information on diet and exercise regimens, and even provides check-ups on mental health. This is a free service. The goal of the platform is to help people, not to generate revenue, and we are actively looking to hire more doctors.