Generic Aadhaar was based by the Thane child, Arjun Deshpande, in April 2019, when he was 16. It provides high quality generic medicine from reputed producers at as much as 80 per cent lesser value and different medicines 20-30 per cent cheaper.
The boy, an alumni of DAV Public School, Thane, started his entrepreneurial journey with the intention of bringing inexpensive medicines to the poor, a press release issued by his PR company mentioned on Thursday.
It didn’t disclose how a lot Tata has invested.
The chairman emeritus of Tata Sons has up to now invested in over a dozen start-ups since he retired from the group in December 2012 and all his investments are routed by means of his funding firm RNT Associates. Some of his investments embody Ola, Paytm, Snapdeal, CureFit, Urban Ladder and Avanti Finance.
Generic Aadhaar sources generic medicine instantly from producers and sells it to retailers, eliminating 16-20 per cent wholesaler margins.
The start-up boasts of an annual income of Rs 6 crore and is taking a look at a income of Rs 150-200 crore in the subsequent three years, the assertion mentioned. It additionally claimed to have employed about 55 individuals, together with pharmacists, IT engineers and advertising professionals.
Deshpande plans to accomplice with 1,000 pharmacies on a franchisee-based mannequin and broaden his attain to Gujarat, Tamil Nadu, Andhra, Delhi, Goa and Rajasthan.
Generic Aadhaar will present all of the assist to the unorganised sector by bringing the suitable know-how, IT infrastructure and branding to the forefront.
“Our business model gives us an edge over others as we aim to bring affordable healthcare to millions. Our mission is to provide senior citizens and pensioner the care they deserve by delivering inexpensive medicines,” says Deshpande.
Currently, it provides diabetes and hypertension medicine however will quickly begin providing most cancers medicine additionally at charges decrease than the market worth and has additionally tied up with 4 WHO-GMP licensed producers at Palghar, Ahmedabad, Puducherry and Nagpur.
It supplies high quality and inexpensive medicines instantly from WHO-GMP facility and has tied up with 30 retailers from Mumbai, Pune, Bengaluru and Odisha following a profit-sharing mannequin.
“Tata got impressed with our business plan and decided to be a part of this mission in a personal capacity and help Generic Aadhaar to reach more and more poor people,” Arjun Deshpande, founder and chief government officer of the start-up, mentioned.
Generic Aadhaar steps in to unravel this downside because it goals to accomplice with 1,000 pharmacies on a franchisee-based mannequin in the approaching months and broaden their attain to markets resembling Gujarat, Tamil Nadu, Andhra Pradesh, New Delhi.
Generic Aadhaar provides diabetes and hypertension medicine however will quickly begin providing most cancers medicine at charges a lot decrease than the market worth.