Not quite. Patents can be for individual chemicals, but can also be for combinations of substances. But to get the patent, the chemical (or combination of materials) must be new, and not obvious. So a well-known combination, such as in ayurveda medicine, cannot be patented because it is not new.
If we formulate a new compound drug of Unani Medicine(By mixing two or more ingredients such as Curcuma, Neem etc) which is not available anywhere (not in any classical book of unani medicine). This type of formulation is based on our own experiences then what is your opinion.
Then there is a good chance it can be patented as long as no-one else has tried using the formulation before (prior use, rather than prior publication)
Just to add, mere mixing of two or more known ingredients can fall under obviousness category even though it will qualify on novelty part.
I have seen some patent applications filed based on formulations of known substances which were discussed in ancient therapies with excellent and improved therapeutic benefits. However, these applications face lot of challenges from patent examiners during examinations while proving non-obviousness.