Highnoon Laboratories

About Company

Highnoon pharmaceutical is a publicly listed company founded in 1995. It is a leader in the development,
production, marketing and distribution of premium quality and affordable medicines that empower health
care professionals. Currently, Highnoon is offering more than 150 products in the market with the vision
of enriching life. Upon investigation, we found out that there is no explicit differentiation between vision
and mission on their website or the annual report, as they have classified both under their “credo”.
Therefore, we extracted the following information from a quote of Mr. Tausif Ahmad Khan (Chairman of
Highnoon) to understand the vision, mission, and values of the company. 

Vision

Highnoon purpose-enriching life- inspiring and guiding to consistently deliver quality products. They
aspire to enrich life by providing innovative disease management solutions.

Their commitment to enriching life is not only reflected in producing high quality healthcare products,
but also in promoting sustainability. An example is installation of Effluent Treatment Plant (ETP) which
purifies industrial wastewater and use it for irrigation and other purposes.

Mission Statement

Highnoon goal is to enrich life through expanding their product offering and reach. The company is
committed to deepen and widen their portfolios and maximize their coverage. They aim to balance patient
welfare with their financial output. Furthermore, offering low cost to reduce the disease burden on the
patient and generate sufficient profits for long-term viability.

This is also reflected in their business activity as their production facilities are consistently upgraded to
meet standards of good manufacturing practices and expand product offering. They work on productivity
and yield improvement in manufacturing operations, utilizing their skilled staff and innovative
manufacturing techniques. Being a mission-driven organization, they also pursue excellence using
competent resources, latest infrastructure and a well-defined Quality Management System that has
enabled them to be an ISO 9001-2008 certified company, maintaining Good Manufacturing Practices
(GMP) ratings by local and international regulatory authorities.
Values

The following table represents the key values of the company which is reflecting their vision of enriching
life. Their overall values revolve around two fundamentals: passion for enriching lives and innovation by
providing innovative disease management solutions.

Perseverance:  Staying true to the cause is our success 

Reliability: We earn trust by remaining consistent in quality

Compassion: We are humble, empathetic and help each other to grow

Integrity: We remain honest and fair even if no one is watching 

Courage: We leap beyond our comfort zone 

Customer Focus: Enriching life is our driving force

Reliability and Integrity

They have achieved reliability and integrity by developing clear policies, automating their procedures,
providing training to their employees to increase efficiency, and developing departments that look after
specific functions and ensuring collaboration between departments.

In addition, Highnoon Labs has an entity known as Environmental Social & Governance (ESG), which
has certain initiatives to improve the lives of their external stakeholders i.e. patients. 

Their Risk Management Committee also strictly monitors the Corporate Risk Matrix to alleviate the
possibility of any undesirable situation emerging from these risks that may infringe shareholder value.

Compassion

Highnoon completed the first phase of donating thalassemia drugs to Sri Lankan patients in November
2022, and they aim to donate every 6 months according to the needs of their patients. This also shows a
commitment to enriching the lives of their stakeholders, which aligns with their credo. Furthermore, they
have initiatives with the aim of providing support to their stakeholders and help resolve medical issues.
One such example is their Blood Donation Drive initiative in collaboration with the Red Crescent Society
on World Blood Donor Day. The aim of the drive, according to Highnoon, was “help patients suffering
from thalassemia to live longer lives”. In collaboration with the Red Crescent Society, Highnoon had set
up a blood donation camp in their head office, which resulted in a large number of employees showing up
to donate blood. 

 Customer focus 

They develop drugs keeping the customer's needs in mind. There are 33 million people living with type 2
diabetes in Pakistan and navigating the risk assessment and decision process can be challenging.
Highnoon has designed an innovative and easy-to-use tool for HCPs to make the process easier and faster
and proves to be a valuable tool for those working in the field of diabetic care. 

Moreover, they have a high product portfolio of around 150 products which shows that they are focused
on providing treatment and preventive products to a wide range of illnesses. This shows a customer-
centric approach in their strategy and placing the needs of a large number of people.

Courage

They have reflected on this value through their determination and spirit to innovate continuously to
improve processes and to bring about high-quality products for their customers. With regards to the new
ethos, Highnoon has invested hugely in R&D in FY21 to enhance their processes, further refine quality,
and through all these together, achieve professional excellence. 

Perseverance 

Highnoon has taken its new ethos to recreate its brand to reflect on this value. They have invested more to
achieve operational excellence by improvements in infrastructure, efficiency improvements, and lab-up
gradations. This has helped them in ramping up in capacity, quality, and utilization. 

In addition, Highnoon also survived and improved the performance of their organization during COVID-
19. This is reflected in their net income for 2020 which increased by 46.3% compared to 2019 and then a
subsequent 27.3% increase in net income in 2021 from 2020.

Moreover, as technology changes rapidly, Highnoon, through strategy implementation, has persisted to
provide high quality and up-to-date products that can compete in the market. As a result, they are in the
Forbes Asia Best Under A Billion, reflecting their resilience in a fast-changing environment.
Strategy

Their long term corporate strategy is geared towards providing high quality pharmaceutical drugs to both
locally, and globally. To achieve this, they have alliances with international as well as national business
partners and are planning on investing in new equipment and technology and upgrading their current
manufacturing facility. Their International Business Partners are shown in Fig 1.1. Their focus on
innovation is evident in their financial statements, which show an increase in R&D expenses of 36% from
2020-21 and a huge investment in intangible assets, which is R&D that has reached development stage.
To make their operations cost efficient, they are undertaking initiatives such as installing newly acquired
high-speed powder, filling and sealing machines. Their projects to increase plant productivity, reduce
costs, and make Highnoon responsive to growing business needs is in line with its strategy of “building
reputation” as a quality conscious pharma producer.

Fig 1.1

Promise for Tomorrow

Highnoon Laboratories launched a new ethos in 2021 “Rising Highnoon – Gear for another Leap”.
Driven by the six elements of Courage, Healer, Rebirth, Uplifter, Resilience and Wisdom, they aim to
become the leading pharmaceutical company in the country. The Promise for Tomorrow perfectly
illustrates their vision, and is also in alignment with their strategy as they want people to be aware of the
importance of imparting knowledge, working with collaboration, growing for better tomorrow, showing
commitment to transform and understanding the shared reward of experience and effective leadership, to
“enrich life” by providing high quality products and promoting sustainability.