Generic Aadhaar | Ratan Tata Ratan Tata-backed pharma chain Generic Aadhaar launches app to compete with online medicine retailers
Mumbai/IBNS: Ratan Tata-backed pharmacy chain Generic Aadhaar has launched an app that will allow buyers to upload prescriptions and place orders.
The app was launched by Ratan Tata in Mumbai. The medicines will be delivered from the nearest Generic Aadhaar franchise shop.
The app will help Generic Aadhar retail shops to compete with online medicine retailers, said Arjun Deshpande, the 18-year-old CEO and founder of Generic Aadhaar, reported Business Today.
Ratan Tata welcomed the app launch while underscoring that it will be able to help serve the masses by making available generic medicines at affordable rates. He hoped that the online retail pharma sector will help improve the health infrastructure in the country and as the movement grows, the quality of the medicines is maintained while their prices continue to be affordable.
Hon. Mr. Ratan Tata Sir expressed his best wishes and blessings to the 18yrs young Founder Mr. Arjun Deshpande said...
Posted by Generic Aadhaar on Monday, March 15, 2021
Generic Aadhaar follows a unique business model. It picks up medicines directly from the manufacturers and supplies them to sell to its franchisees, eliminating the wholesalers' margin which ranges between 16% to 20%.
The business was founded two years ago by Arjun Deshpande. Ratan Tata bought a stake in Generic Aadhar for an undisclosed amount to support and encourage the entrepreneurship of the teenager.
Many retailers in Mumbai, Pune, Bangalore and Odisha are part of the chain. These shops are mainly the existing pharma retailers who are provided a face-lift free of cost with Generic Aadhaar branding, logo and necessary IT infrastructure, the report said.
The company plans to add at least 1,000 new small franchisees within a year and expand to the rest of Maharashtra, Gujarat, Andhra Pradesh, Tamil Nadu and Delhi, Deshpande had said, according to Business Today.
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