According to a survey, 60% of Indians can not afford medicines due to their high market price and resulting in poor healthcare to people. Generic Aadhar is one such startup that eliminates middle men and directly takes medicines from manufacturers and supplies to the retailers. Ratan Tata, retired chairman of Tata Sons has invested an undisclosed amount from his personal capacity in the startup.
18-year old Arjun Deshpande is the CEO and founder of Generic Aadhar with the sole aim of providing affordable medicines to the masses of the country. The idea behind the startup is to cut the wholesaler margin of about 15-20% and directly reach the individual retail pharmacies.
The startup has already reached the target audience through 30 retailers in Bangalore, Mumbai, Odisha and Pune. The current annual revenue of the company is around Rs 6 crore which is aimed to reach Rs 150-200 crore in next three years. Arjun has a business plan ready for the growth which includes partnering with about 1000 retailers on a franchise-based model. He plans on expanding the services to other cities like Rajasthan, Gujarat, New Delhi, Tamil Nadu and Andhra Pradesh.
Generic Aadhar aims to help the senior citizens and pension holders receive adequate healthcare. They are currently supplying diabetes and hypertension medicines and soon will start with cancer drugs. Arjun has already partnered with WHO-GMP certified manufacturers in Pondicherry, Palghar, Ahmedabad and Nagpur.