Medicine is considered to be one of the most important necessities for all of us. It is concerned with maintaining and restoring human health, and the role of a pharmacist is vital for the benefit of the patients. Not all medicines are available for low prices and thus cannot be afforded by everybody. So for the customers who cannot afford expensive brand medicines, there are generic medicine startups that provide medicines at a fairly low price. Here we are going to talk about Top 3 Generic Medicine Startups that are Reshaping the Pharmaceutical Industry in India.
What are Generic medicines?
Generic drugs are identical to brand-name drugs that have the same dosage, intended use, effects, side effects, route of administration, risks, safety, and strength as the original drug. Generic drugs are only cheaper because the manufacturers have not had the expenses of developing and marketing a new drug.
Top 3 Generic Medicine Startups in India
1. StayHappi
StayHappi was founded by Arushi Jain on October 2017. StayHappi Pharmacy practices and serves these legitimate medicines at the right costs by providing them the authority to make this right choice. They offer High-Quality Generic medicines at 30- 90% lower MRP than the branded medicines and progressing towards making Healthcare more affordable.
| Startup Name | StayHappi |
|---|---|
| Headquarter | Delhi, India |
| Industry | Pharmaceutical |
| Founder | Arushi Jain |
| Founded | October 2017 |
| Parent Organization | SarvaGunAushdhi Private Limited |
| Products | Allopathic, Ayurvedic, Herbal medicines, Neutraceuticals, OTC, Consumables, Cosmetics, Surgical items and Medical Devices. |
2. Generico
Generico was founded by Siddharth Gadia on 2017. Generico is the fastest growing specialized pharmacy retail chain of Generic medicines. Started by IIT Bombay alumni, Generico aims at making healthcare affordable for millions of Indians. It provides the biggest portfolio of generic medicines from the reputed pharma companies under one roof and provide up to 80% lesser price.
| Startup Name | Generico |
|---|---|
| Headquarter | Mumbai, Maharashtra |
| Industry | Pharmaceutical |
| Founder | Siddharth Gadia |
| Founded | May 2017 |
| Products | Cardiovascular, Gastrointestinal, CNS, Urology, Disorders of Aging |
StartupTalky
3. Generic Aadhar
Generic Aadhaar which is founded by Arjun Deshpande in 2018 in Thane. Generic Aadhaar provides generic quality medicines from reputed pharma companies at up to 80 percent lower prices. It offers a huge portfolio of branded, generic, homoeopathy, and Ayurveda medicines from government-approved manufacturing facilities.
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 Tamil Nadu, Andhra Pradesh, New Delhi, Goa, Rajasthan, Gujarat.
Ratan Tata has invested undisclosed amount in this pharmaceutical startup Generic Aadhar.
Here is a list of List of 24 Startups Funded by Ratan Tata
| Startup Name | Generic Aadhar |
|---|---|
| Headquarter | Maharashtra, India |
| Industry | Pharmaceutical |
| Founder | Arjun Deshpande |
| Founded | 2019 |
| Products | Medical Supplies |
These generic medicine startups are doing an excellent job by providing generic medicine at an affordable price to the customers who can't afford branded medicines. As India is the largest provider of generic drugs globally, the Indian pharmaceutical sector supplies over 50 percent of global demand for various vaccines, 40 percent of generic demand in the US, and 25 percent of all medicine in the UK. It is also expected to grow to US$ 100 billion by 2025.
Author: Arbaaz sayed
Source : https://startuptalky.com/generic-medicine-startups-india/
Date : 2020-09-02T13:26:20.000Z