MUMBAI: Ratan Tata, on Thursday, invested an undisclosed amount in pharmaceutical venture Generic Aadhaar. Founded by Arjun Deshpande, the startup claims to have an annual revenue of Rs 6 crore and is looking at a revenue of Rs 150-200 crore in the next three years.
Generic Aadhaar follows a pharmacy-aggregator business model sourcing generic drugs directly from the manufacturer and providing it to the retailers, thereby cutting out the middlemen completely and delivering medicines to masses at a much lesser cost. It is a B2B2C model that aims at providing Indians with affordable medication by supporting single medical stores across the nation which otherwise face competition from big brands and online pharmacies. Under Generic Aadhaar, the company provides medication directly from WHO-GMP facility and has tied up with 30 retailers from Mumbai, Pune, Bangalore and Odisha following a profit-sharing model.
Deshpande, said in a statement, “Our mission is to provide senior citizens and pension holders the care they deserve with our idea of delivering inexpensive medicines which are required on a daily basis.”
A survey states that 60% of Indians cannot afford proper medication due to their high market price and hence fall behind to deliver basic healthcare needs to people. Generic Aadhaar aims to partner with 1000 pharmacies on a franchisee-based model in the coming months and expand their reach to markets like to Gujarat, Tamil Nadu, Andhra Pradesh, New Delhi, Goa, Rajasthan, Gujarat.
Generic Aadhaar follows a pharmacy-aggregator business model sourcing generic drugs directly from the manufacturer and providing it to the retailers, thereby cutting out the middlemen completely and delivering medicines to masses at a much lesser cost. It is a B2B2C model that aims at providing Indians with affordable medication by supporting single medical stores across the nation which otherwise face competition from big brands and online pharmacies. Under Generic Aadhaar, the company provides medication directly from WHO-GMP facility and has tied up with 30 retailers from Mumbai, Pune, Bangalore and Odisha following a profit-sharing model.
Deshpande, said in a statement, “Our mission is to provide senior citizens and pension holders the care they deserve with our idea of delivering inexpensive medicines which are required on a daily basis.”
A survey states that 60% of Indians cannot afford proper medication due to their high market price and hence fall behind to deliver basic healthcare needs to people. Generic Aadhaar aims to partner with 1000 pharmacies on a franchisee-based model in the coming months and expand their reach to markets like to Gujarat, Tamil Nadu, Andhra Pradesh, New Delhi, Goa, Rajasthan, Gujarat.
( Originally published on May 07, 2020 )
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