According to SastaSundar Ventures, which runs digital platforms with a health focus, its collaboration with e-commerce behemoth Flipkart is now finished. B L Mittal, the founder and executive chairman of SastaSundar, told a news agency that SastaSundar Healthbuddy, a division of SastaSundar Ventures, had reclaimed the brand’s intellectual property rights (IPR) and non-compete agreements from Flipkart Health+ through its recently established subsidiary SastaSundar Healthtech.
Notably, in 2021, Flipkart Health, a subsidiary of Flipkart, purchased a 75% share in SastaSundar Healthbuddy. SastaSundar Ventures notified the stock exchanges in October 2024 that SastaSundar Healthbuddy has signed a share purchase agreement to transfer Flipkart Health Limited’s whole stake to Flipkart Health Private Limited, Singapore. Both preference and equity shares were sold as part of the transaction.
According to the company’s filing, SastaSundar Healthbuddy Limited, a significant subsidiary, will get the entire consideration of INR 97.17 Cr. According to Mittal, the business sold Flipkart a 75% ownership in SastaSundar Marketplace in 2021 for INR 750 Cr.
SastaSundar’s Business Operations
In an investor presentation in October 2024, the firm stated that it expected the brand to be profitable and planned to invest approximately INR 115 Cr in “technology and brand building” over the following three years. Notably, SastaSundar Ventures has two digital platforms: RetailerShakti, a B2B platform for the distribution of pharmaceutical and wellness products, and SastaSundar App, a B2C platform that offers pharmacy, diagnostic, and wellness services.
Flipkart Health, on the other hand, is an online pharmacy where customers can purchase medications, medical supplies, and wellness goods. Following Flipkart’s acquisition of SastaSundar, it was introduced in 2022.
Growing Network of 10 Min Medicine Delivery
Less than a month has passed since rumours circulated that Flipkart was preparing to introduce a 10-minute medication delivery service under its “Minutes” rapid commerce brand. According to reports at the time, the e-commerce giant had already begun enrolling neighbourhood pharmacies in major cities to supply medications.
The 10-minute medication delivery service is a noteworthy experiment that Flipkart is not the only one experimenting with. Foodtech titan Swiggy and e-pharmacy major PharmEasy launched a 10-minute medication delivery service in certain Bengaluru areas in October of last year. Next is BigBasket, which is supported by Tata and aims to take advantage of this whitespace by using its sister brand, Tata 1mg, to provide speedy medication delivery.
In addition, while only having one location in Bengaluru at the moment, Plazza, which was established in November 2024, has also become a rising force in the fast medication delivery market.
Pradeep Dadha is amongst the most prominent Indian entrepreneurs with a massive mark in both eCommerce and pharmaceutical business. He is the CEO and founder of Netmeds and plays a pivotal role in bridging between healthcare and technology to make medicines accessible to millions throughout India. As he came from the well-known Dadha family, whose business in pharmaceuticals had spanned a century, Pradeep made his family’s heritage shift and transformed the way Indians have health care products. Netmeds has acquired the nickname “India’s Pharmacy” with a focus on customer service, a range of products, and digital innovation.
Let’s look at the story of the founder and CEO of Netmeds, Pradeep Dadha. We will discuss his net worth, education, personal life, philanthropy, and more.
Pradeep Dadha – Biography
Full Name
Pradeep Dadha
Birthplace
Royapettah, Chennai, India
Nationality
Indian
Occupation
Entrepreneur
Known For
Founding Netmeds
Other Titles
Founder of Vitalic Health Pvt. Ltd.
Family Legacy
Pharmaceutical retail and manufacturing since 1914
Hobbies
Business innovation, technology integration, and philanthropic initiatives
Pradeep hails from Chennai and grew up surrounded by the pharmaceuticals and healthcare industry. He has always been exposed to his family business since his early years, which fueled his interest in innovation and entrepreneurship. While records regarding his educational background are not readily available, it is quite apparent that Pradeep has a good background in business and management that he could apply to his ventures later. His early years were marked by observing the challenges in pharmaceutical distribution, which inspired his future endeavors in digital healthcare solutions.
A descendent of the legendary lineage of Dadha, whose family has been in the pharmaceutical business for decades, hails Pradeep Dadha. His grandfather set up the family’s pharmacy retail business in 1914. His father branched out into manufacturing at Tamil Nadu Dadha Pharmaceuticals Ltd. (TDPL) in 1972. The Dadha family is one of the most revered in Chennai for its contribution to healthcare and commitment to the betterment of quality medicine access.
Pradeep Dadha – Career Highlights
Pradeep initially served in his family’s business. Dadha & Company, which was the giant leader in pharmaceutical retailing at the time, engaged him where he learned firsthand, about the supply chain and all the business activities along with customer relations.
In 2010, Pradeep discovered the untapped potential of eCommerce in healthcare. To fill this gap, he established the subsidiary Netmeds under Vitalic Health Pvt. Ltd., to provide the online pharmacy service. The idea was simple yet revolutionary: to allow a customer to place an order for medicines online and have them delivered to the doorstep.
It wasn’t long before the popularity of Netmeds started to pick up, mostly because of its easy interface, large product portfolio, and reliable delivery network. The innovative approach ensured that prescription medicines, over-the-counter drugs, healthcare devices, and wellness products all were found under one roof, namely Netmeds.
Under the guidance of Pradeep, Netmeds was one of India’s most trusted online pharmacy stores, garnering huge investments, and eventually, in 2020, it was acquired by Reliance Industries Ltd., as a strategic buy to further consolidate its presence in the market.
Pradeep believes that technology must be leveraged to solve the problems of real life. In Netmeds, his vision was not only creating a business but also addressing all the critical healthcare gaps in India. Through the AI-driven solutions and the logistics network in place, he made sure that even the remotest parts of the country could access Netmeds.
In FY21, Netmeds’ revenue from operations amounted to Rs 13,423.42 lakh and decreased to Rs 10,776.96 lakh in FY22. Simultaneously, the company’s profit surged from Rs 104.77 lakh in FY21 to Rs 1,057.69 lakh in FY22.
Pradeep Dadha has been very active in philanthropy, particularly in the domains of health and community welfare. Though much of his philanthropy is integrated into his work at Netmeds and the broader healthcare ecosystem, some notable contributions include:
1. Enhancing Healthcare Accessibility: Pradeep Dadha’s vision for Netmeds was based on the need to address healthcare inequities in India. He has, in a way, indirectly contributed to public welfare by ensuring that medicines are available to people at affordable prices who reside in remote and inaccessible areas. This initiative has particularly benefited rural populations where physical pharmacies are scarce.
2. Helping the Underprivileged: Pradeep has participated in initiatives that deliver free or reduced-cost drugs to families of low income. These initiatives, typically in collaboration with NGOs and health service providers, have assisted families who could not afford drugs.
3. Promoting Preventive Healthcare: Pradeep has collaborated with healthcare professionals and organizations to back campaigns for preventive healthcare. This has included lifestyle disease awareness drives, vaccination programs, and health camps in rural areas.
4. Disaster Relief: Under Pradeep, Netmeds has been the lifeline that has delivered medical supplies at the right time during disasters. Be it natural calamities or pandemics, Netmeds has ensured critical medicines and healthcare essentials reach affected regions at the right time. For instance, during the COVID-19 pandemic, Netmeds was instrumental in delivering medicines and healthcare products, easing the burden on healthcare infrastructure.
5. Empowering Women and Children: Pradeep has supported initiatives for health improvement for women and children, as well as other health-enhancing programs. He included nutritional supplement distribution, support for maternal health, and medicines for pediatric care in such activities.
6. Innovation in HealthCare: Pradeep’s leadership at Netmeds and Vitalic Health encouraged research and development of technologies in healthcare. It helps indirectly improve public health through encouraging innovative solutions for the management of diseases and health delivery.
7. Charity Drives: Pradeep has supported many charity drives, mainly concerning free medical check-ups, eye camps, and essential medicines to be dispensed to the needy population.
8. NGOs Partnerships: Pradeep has actively partnered with a few non-profits to scale healthcare services in rural and semi-urban areas. Such partnerships helped to bridge the gap between health service providers and patients who usually are not reached by the formal health system.
NDTV Unicorn Start-up Award (2016): Was featured as one of the best start-up companies in India.
Asia’s Most Promising Brand 2018: For innovative and exponential growth in the healthcare e-commerce segment.
Best Digital Healthcare Start-up by ET Now World Health and Wellness Congress (2019)
Emerging Company of the Year, Zee Business Dare to Dream Award 2018
Digital Healthcare Company of the Year, Economic Times, 2019
For Pradeep Dadha
Game Changer of India, 2018: A recognized person by the Economic Times for his contribution towards e-commerce.
Business Innovator of the Year 2018: Global Adjustments’ India Living Awards gave this to him for innovative work in the health industry.
Pradeep Dadha – Facts
From successful e-pharmacy models of Western countries, but in the context of problems prevailing in the Indian market and to be adapted.
He actively participates in the access to healthcare initiatives that cater to underprivileged communities.
Pradeep is passionate about emerging technologies like AI and blockchain and their applications in healthcare.
Despite his very tight schedule, Pradeep is very much close to his family’s culture and values.
FAQs
Who is Pradeep Dadha?
Pradeep Dadha is an Indian entrepreneur and the founder of Netmeds, an online pharmacy. Netmeds provides medicines, healthcare products, and wellness items.
When was Netmeds founded?
Netmeds was founded in 2010. It was later acquired by Reliance Retail in 2020.
What does Netmeds do?
Netmeds is one of the top online pharmacies in India that deals with a wide range of healthcare products like high-quality prescription medicines, over-the-counter pharmaceuticals, general healthcare products, Ayurvedic medicines, and homeopathic medicines. It has delivery facilities across India.
What is Pradeep Dadha net worth?
Pradeep Dadha’s net worth as of 2023 is between $6-9 million.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by MedPlus.
There are millions of businesses in the world but not all of them carry equal importance. Some may be for entertainment, some for food, essentials, knowledge development, etc., but a basic requirement for running all the above businesses is our health. A place/business that helps us in taking good care of our health next to hospitals are the pharmacies. Carrying such importance, this industry has always seen growth. Now, by combining technology and healthcare needs, the pharmaceutical industry is enhancing itself to provide better and quick healthcare assistance to people.
MedPlus is one such pharmacy retailer offering multiple health services. They provide services like path labs, optical stores and physician consultation services, in addition to selling prescription medicines. MedPlus was established in 2006 by Madhukar Gangadi. Here, in this article, is the formation and growth of MedPlus along with its funding history, business and revenue models.
December 23, 2021 – Shares of MedPlus were listed on BSE and NSE on 23rd December. They were made available at a premium of 31 per cent. But the price ended at a gain of more than 40%, which is considered a big jump for MedPlus’s debut trade.
December 13, 2021 – The IPO subscription of MedPlus Healthcare Services opened on December 13. Though aggressive pricing has been followed by the company for its IPO, investors showed ample interest in the bidding. Almost 70% of the issue was subscribed on Day 1.
MedPlus Health Services IPO
MedPlus – About
MedPlus is an omnichannel pharmacy retailer offering healthcare services in India. The company sells medicines on prescriptions, FMCG products, nutritional supplements and many more. MedPlus also offers optical solutions and other medical consultation services in the country. It is based in Hyderabad and is the 2nd largest pharmacy chain in India, next to Apollo Pharmacy.
MedPlus, during its initial stages, operated under the name ‘Aushadi’. It was renamed ‘MedPlus’ after expanding its operation to over 48 retail stores. MedPlus Mart is the e-pharmacy store through which the company sells medicines online.
MedPlus – Industry
MedPlus belongs to the Pharmaceutical Industry. The pharmaceutical industry involves dealing with research, development, marketing and sales of medicines and drugs. They aim at preventing, protecting and curing the illness. The industry also deals with medical equipment and generic medications.
India’s pharma industry is huge. It is the largest supplier of generic medicines and ranks 3rd by overall production in the world. India meets the vaccine demand of the world by 50%, the generic medicine demand of the US by 40% and the UK by 25%.
MedPlus – Founders and Team
Madhukar Gangadi – MedPlus Founder
MedPlus was founded by Madhukar Gangadi in 2006 in Hyderabad. He has also served as the Chief Executive Officer of the company since its inception. Gangadi has an MBA degree from the Wharton School. He also earned a bachelor’s degree in medicine and surgery from the Sri Venkateshwara University. He used his experience in both healthcare and entrepreneurship to start MedPlus. The other core team members of MedPlus are:
Bhaskar Reddy Cherukupalli – COO (Retail stores)
Surendranath Mantena – COO (MedPlus Mart)
MedPlus – Mission and Vision
MedPlus Logo
MedPlus runs with a mission to turn itself as the customer’s first choice when it comes to medicines and healthcare. The company wants to understand the customer’s needs and exceed their expectations as much as possible. MedPlus has the vision to bring about a revolution in the healthcare industry in India.
MedPlus – Business and Revenue Model
MedPlus is an omnichannel platform that provides services through both retail stores and online platforms. The company increased its retail stores through franchises. MedPlus first chooses an area and studies its market, demographic needs and supply chain. Then it starts expanding its retail stores in and around the area by proper planning and implementation of strategies. Later, the company uses this growth and supply chain to expand its operations further.
MedPlus also operates its pharmacy business online through MedPlus Mart. This service was started in 2015 and was expanded across the country. MedPlus claims to be the first to start an omnichannel pharmacy in India. The company also entered the path labs and optical businesses in 2020. The revenue of MedPlus flows from the sale of medicines and other healthcare services offered by the company directly or through their franchisees across the country.
MedPlus – Challenges Faced
MedPlus faced severe challenges and criticisms at the time of establishing their online platform MedPlus Mart. The All India Organization of Chemists and Druggists (AIOCD) organized a nationwide strike against the company for starting e-pharmacies. They criticized that the chemists around the country will be severely affected by this MedPlus’s initiative. Then MedPlus made their sales policy explicit and clarified that they are complying with every aspect of the Drug Act.
MedPlus – Funding and Investors
MedPlus managed to raise a sum of $317.7 million through 7 rounds of funding. A total of 6 investors have invested in the company so far. Here is the company’s list of fundings:
Date
Round
Money
Investors
February 11, 2021
Private Equity Round
$13.5 million
Warburg Pincus, PremjiInvest
April 1, 2019
Series C
–
PremjiInvest
January 2, 2018
Debt Financing
$117.7 million
Goldman Sachs
December 15, 2017
Series C
$1.1 million
–
November 10, 2014
Series C
$89.9 million
Mount Kellett Capital Management
March 14, 2011
Private Equity Round
$90 million
TVS Capital Funds, Mount Kellett Capital Management
March 22, 2007
Private Equity Round
$3.1 million
Peepul Capital LLC
MedPlus – Growth
Starting its operations in 2006, MedPlus has seen enormous growth in about one and half decades. Today, the company has widened its business to over 2100 pharmacies across 7 Indian states. It also adapted to the technological advancements and established an online platform in 2015 to ease and widen its sales to customers. MedPlus has now issued its IPO thus aiming to enlarge its operations to every corner of the country in the future.
MedPlus also had consistent revenue growth over the years. The company’s CAGR growth is expected to grow 25% between the financial year 2020 and 2025. The market share of this omnichannel entity is 22% as of 2021. Similarly, the company reported an increase in revenue and profit for 2021, which was severely affected in 2020 due to the pandemic. At the end of the third quarter of 2021, MedPlus had revenue of ₹1890.9 crores and a profit of ₹66.36 crores.
MedPlus – Competitors
MedPlus has earned quite a good competition all through its operation span of over 16 years. Few of them, like Apollo, are omnichannel competitors. In fact, Apollo stands to be the largest pharmacy retail chain in India. In addition to it, few other companies, which show promising growth and worthy competition to MedPlus, have emerged. Here are some of them:
MedPlus launched its Initial Public Offering in the name of MedPlus Health Services by mid-December 2021. The company is expected to be valued high in the near future. It is also planning for potential financial growth in the long term. MedPlus has decided to use the proceeds from IPO for meeting the future working capital requirements of the company. The majority of the funds are expected to be used for developing Optival Health Solutions. MedPlus is strategically planning every step to bridge the gap with the competitor ahead. The CEO Madhukar Gangadi confidently said that the MedPlus will overtake Apollo within the next two and half years.
MedPlus – FAQs
What is MedPlus?
MedPlus is an omnichannel pharmacy retailer offering healthcare services in India.
Who is the founder of MedPlus?
Madhukar Gangadi founded MedPlus in 2006. He is the CEO of the company.
Who are the top competitors of MedPlus?
Some of the top competitors of MedPlus are:
PharmEasy
Apollo pharmacies
Netmeds
1mg
MedLife
How many retail stores does MedPlus have in India?
MedPlus has over 2100 stores in the country as of March 31, 2021.
Even during the pandemic, the net worth of many billionaires have been growing consistently. According to Forbes, the number of billionaires in the Forbes 35th list of the world wealthiest people, the number of billionaires have increased to 2,755, which was 660 more than a year ago.
Everyone knows that the richest person on the planet is Elon Musk with a net worth of $203.4 billion, followed by Jeff Bezos with $192.2 billion and Bernard Arnault & family with $185.8 billion, as of October 16, 2021. But do you know the top twenty richest people in Asia? According to Bloomberg Billionaire Index and the Forbes Billionaires List, the top 15 richest people in Asia, collectively account to over $500 billion.
The people in this list are self-made, big tech tycoons and real estate giants. The person who takes the top spot in the list of Asia is none other than India’s richest person, Mukesh Ambani who is the Chairman of the conglomerate, Reliance Industries Ltd. The other high profile billionaires from the continent are Jack Ma, Gautam Adani, Zhong Shanshan, Ma Huateng, Li Ka-Shing, etc. To find out who else made the top 20 according to Forbes.
Here is the list of the Top 20 Richest People in Asia.
1. Mukesh Ambani
Chairman/MD
Reliance Industries Ltd
Net Worth
US$100.6 billion (as of October 2021)
Industry
Energy, Telecom, Retail, Petrochemicals, Textiles and Natural Resources
Country
India
Age
64 (2021)
Mukesh Ambani
Mukesh Dhirubhai Ambani is an Indian Billionaire Businessman, the Chairman, Managing Director and the largest shareholder of the Reliance Industries Ltd., which is an energy and telecom multinational conglomerate.
Reliance Industries owns business across India and has its foothold in the industries such as energy, petrochemicals, textiles, natural resources, retail and even telecommunications. The company is also in the list of the Fortune Global 500 Company and is the country most valuable company as per its market value.
Ambani is credited for creating Jio, an affordable 4G phone service in India. The billionaire also owns an Indian Premier League team known as the Mumbai Indians and also has a property worth more than $400 million. As of 16th October 2021, Mukesh Ambani is the richest person not only in India but also Asia with a net worth of US $100.6 billion and is also the 11th richest person in the world. The head honcho of Reliance India Limited has joined the coveted club of billionaires with a fortune of at least $100 billion on 8th October 2021, Friday, following the rapid rise of the stocks of the conglomerate.
2. Zhong Shanchan
Founder/ CEO
Nongfu Spring
Majority stake holder
Beijing Wantai Biological Pharmacy Enterprise
Net Worth
US$71.6 billion (as of 28th May 2021)
Industry
Beverage and Pharmacy
Country
China
Age
67
Zhong Shanshan
Zhong Shanshan is a Chinese billionaire businessman, the founder and chairman of Nongfu Spring which is a popular beverage company in China and a majority stake holder of Beijing Wantai Biological Pharmacy Enterprise.
Nongfu Spring is a bottled water and beverage company that went public in September 2020, the company recently tripled its value to $85 billion. As of 16th October 2021, the net worth of Shangshan is $71.6 billion, making him the richest person in China, the 2nd richest person in Asia after Gautam Adani.
He became the second richest person in Asia due to the recent stock listing of Nongfu and also because Wantai Biological managed to tap into the high demand of Covid 19 kits. Zhong Shanshan is also known to have accumulated his wealth the fastest in history, according to Bloomberg.
Resources, Logistics, Energy, Energy, Defence, Aerospace, Real Estate, Financial, etc.
Country
India
Age
59 (2021)
Gautam Adani
Gautam Shantilal Adani is an Indian Billionaire Industrialist, the Founder and Chairman of the Adani Group. Adani Group is an Indian multinational conglomerate that has diverse businesses across the industries of resources, logistics, energy, energy, defense, aerospace, real estate, financial, etc.
Adani Group has an annual revenue of more than US $13 billion with operations in more than 50 countries. Adani is especially known for being a port developer and operator and is known for having the largest port in the country known as the Mundra port.
As of 2018, Gautam Adani has over 66% stake in Adani Ports & SEZ, 75% stake in Adani Enterprises, 73% stake in Adani Power, and a 75% stake in Adani Transmission. As of 16th October 2021, Gautam Adani has a net worth of US $75.20 Billion, making him the second richest person in Asia. He had recently overtaken Chinese bottled water producer, Zhong Shanshan in September 2021.
4. Robin Zeng
Founder/ Chairman
Contemporary Amperex Technology
Net Worth
US $50.70 billion (as of October 2021)
Industry
Automotive Li-ion Batteries, Energy Storage Systems, Battery Recycling
Country
China
Age
53 (2021)
Robin Zeng
Robin Zeng also known as Zeng Yuqun is a Chinese billionaire entrepreneur, the Founder and Chairman of Contemporary Amperex Technology (CATL).
The CATL is well known Chinese’s battery manufacturer and Technology Company that specializes in making lithium-ion battery for electric vehicles, battery management systems. Zeng is among the richest people in China and in Asia. With a net worth of $50.70 billion, he recently overtook Jack Ma, as per the reports dated October 16, 2021.
5. Ma Huateng
Chairman/MD
Tencent Holdings
Net Worth
US$49.10 billion (as of October 2021)
Industry
Technology
Country
China
Age
49 (2021)
Ma Huateng
Ma Huateng, also known as Pony Ma is a Chinese Billionaire Businessman, the Founder, Chairman and CEO of Tencent. Tencent is the continent’s most valuable company and one of the largest internet and Technology Company.
Besides , Tencent is also one of the biggest investment, gaming and entertainment conglomerate in the world known for developing China’s instant messaging app called WeChat. According to Time magazine Ma Huateng is one of the most influencial people in 2018, while Fortune also ranked him as among the top businessmen of the year in 2017.
The businessman wealth comes from the 9.7% stake in Tencent holdings. He is known to own properties in Hong Kong and art pieces that are worth over US $150 million. As of 16th October 2021, the net worth of Ma Huateng is US $49.10 billion, making him one of the richest people in China and the 5th richest person in Asia.
Zhang Yiming is a Chinese Billionaire Businessman and the Founder of ByteDance and developer for the news aggregator Toutiao and the world renowned video sharing platform TikTok. ByteDance is a Chinese multinational internet tech company known for developing video sharing and social networking sites like TikTok and Douyin.
ByteDance also developed an app known as Toutiao, which is a platform that delivers news content in various forms. As of 2018, ByteDance has over 800 million daily users across all its content platforms and has been valued at $250 billion as of 2021. According to Bloomberg billionaires index Zhang’s personal wealth is estimated to be around $44 billion.
Zhang Yiming stepped down from the position of CEO of Bytedance to embrace a new role within the company on 20th May 2021.
7. Jack Ma
Founder/ CEO
Alibaba Group
Net Worth
US$42.30 billion (as of October 2021)
Industry
Technology, E-commerce, Retail
Country
China
Age
56 (2021)
Jack Ma
Jack Ma is a Chinese billionaire businessman, the Founder and former Executive Chairman of Alibaba Group. Alibaba is a Multinational Technology Conglomerate that specializes in E-commerce, retail, technology and offers C2C, B2C and B2B sales, electronic payments, shopping search engines and cloud computing services.
Alibaba is the world largest retailers and e-commerce companies and has the 6th highest global brand valuation in 2018.Jack Ma was ranked 2nd in the Forbes list of the World 50 greatest leaders and is also a popular philanthropist as he has supported many underprivileged communities in China, Africa, Australia, and the Middle East.
As of 16th October 2021, the net worth of Jack Ma is US$42.3 billion making him a distinguished billionaire in China and the 7th richest person in Asia.
8. Li Ka Shing
Chairman
Li Ka Shing Foundation
Net Worth
US $31.80 Billion (As of October 2021)
Industry
Real Estate
Country
Hong Kong
Age
92 (2021)
Li Ka Shing is a Hong Kong businessman, an investor and well known philanthropist. He is the senior advisor and former chairman of the board for CK Hutchison Holdings and CK Asset Holdings. Li Ka Shing is 92 years old and is known to be the world leading port investor, developer and operator of the largest health and beauty and retailer in Asia and Europe.
According to Forbes Hong Kong Fortune league chart, Li Ka Shing became the richest person in Hong Kong in February 2021. Li is often regarded as “Superman li” by the Hong Kong media because of his business prowess, he also is the most influential entrepreneurs in the continent.
Li presides over a huge business empire that has its foothold in the industries such as transportation, real estate, financial services, retail, and energy and utilities. The billionaire is also a philanthropist that leads a simple life and has donated billions of dollars to charity and causes making him Asia most generous philanthropists.
As of 16th October 2021, Li Ka Shing net worth is over US $31.80 Billion making him one of the richest person in Hong Kong and among the richest in Asia.
9. He Xiangjian
Founder
Midea Group
Net Worth
US$31.70 billion (as of October 2021)
Industry
Consumer appliances
Country
China
Age
79 (2021)
He Xiangjian
He Xiangjian is the Co-founder of Midea Group, which is known to be one of the world’s largest appliance makers. Midea Group is electrical appliances manufacturer that has more than 200 subsidiaries.
The company is known for its products like lighting, water appliance, floor care, small kitchen appliance, laundry, cooking appliance and refrigeration appliances. According to Bloomberg Billionaire Index, Xiangjian was ranked the 44th place as his net worth was $32.7 billion in April 2021.
Media is also the world largest producers of robots and appliances which is why the company was also listed in the Fortune Global 500 since 2016. He Xiangjian stepped down from the company operation in 2012, but is still one among the richest in China and Asia with a wealth of $32.70 billion.
10. Lee Shau Kee
Founder/Chairman
Henderson Land Development
Net Worth
US $31.10 billion (as of October 2021)
Industry
Real Estate
Country
Hong Kong
Age
93 (2021)
Le Shau Kee
Le Shau Kee is a billionaire businessman from Hong Kong, real estate tycoon, founder and former chairman of Henderson Land Development. Henderson Land Development is a well known property conglomerate with stakes in property, hotels, restaurants and internet services.
The company’s main activities are property development, investment, project management, construction, hotel operation, finance, investment holding and infrastructure. The billionaire controlled over 70.17% of the share capital of the company as of 2015.
Kee stepped down from the position of chairman in 2019 at the age of 91 and passed the mantel to his sons. Le Shau Kee is one of the richest people in Hong Kong and in Asia. His net worth is estimated to be $31.10 billion, as of 16th October 2021.
11. Colin Huang
Founder/ CEO
Pinduoduo
Net Worth
US$31.10 billion (as of October 2021)
Industry
E-commerce, Agriculture
Country
China
Age
41 (2021)
Colin Huang
Colin Huang also known as Huang Zheng is a Chinese billionaire businessman, the Founder and CEO of Pinduoduo. Pinduoduo is a leading E-commerce and the largest agriculture-focused technology platform in China. Pinduoduo’s main objective is to connect farmers and distributors directly with the consumers and provide an interactive shopping experience.
Over 600,000 merchants have sold their produce through the platform with more than 12 million farmers supplying their fruits and vegetable to the merchants. According to Bloomberg, the platform has over 628 million customers and made $4.2 billion in 2019. Huang has also founded two other popular internet based companies known as Xinyoudi (a gaming business) and Ouku.com (an e-commerce platform).
The businessman has grown his wealth steadily in the recent years, climbing the global ranks from number 94 in 2019, to number 57 in 2020, and then 21. As of 16th October 2021, Colin Huang net worth is US$31.10 billion, which makes him the one of the richest people in China and the 11st richest person in Asia.
Tadashi Yanai is a Japanese Billionaire businessman, the Founder and President of Fast Retailing. Fast Retailing is public Japanese retail holding company that owns more than a 1000 stores. The company owns popular Japanese subsidiaries like Uniqlo, J brand, Comptoir des Cotonniers, GU, Princesse Tam Tam and Theory.
He is also the biggest shareholder of Asia’s largest clothing retailer known as Uniqlo. According to Bloomberg Billionaire Index, Tadashi Yanai became the richest person in Japan and the 34th richest person in the world, as his net worth was estimated to be $42.billion as of April 2021.
However, as of 16th October 2021, the billionaire’s net worth is US $32.5 billion, making him the richest person in Japan and among the richest in Asia.
13. Ding Lei
Founder/CEO
NetEase
Net Worth
US $29.8 billion (as of October 2021)
Industry
Technology
Country
China
Age
49 (2021)
Ding Lei is also known as William ding is a Chinese Billionaire businessman, the Founder and CEO of NetEase. NetEase is Internet Tech Company known for its services like content, community, communications and commerce. The company also develops online PC and mobile games, advertising services and e-commerce platforms in China.
NetEase is one of the largest internet and video game companies in the world. Besides gaming, NetEase works with other online media entertainment like movies and music. Ding Lei is known to have made many contributions to the development of computer networks in China, while his company work with Blizzard Entertainment and Microsoft subsidiary Mojang.
According to Bloomberg, the net worth of Ding Lei as of 16th October 2021 is $29.8 billion, making him one of the richest people in China and in Asia.
14. Wang Wei
Founder/Chairman
SF Express
Net Worth
US $28.8 billion (16th October 2021)
Industry
International express delivery and logistics services
Country
China
Age
50 (2021)
Wang Wei is a Chinese billionaire businessman, the Founder and Chairman of SF Express. SF Express is a multinational express delivery services and logistics company. The company is the 2nd largest courier in China as it provides domestic and international express delivery.
It is also known for the SF Airlines which has a fleet of 50 cargo aircrafts. SF Express began in 2009 and has transported more than two million tonnes of cargo till 2018. This is why the SF Express is known as the “Fedex of China.”
As of 16th October 2021, the net worth of Wang Wei is US $28.8 billion, making him one among the richest people in China as well as in Asia.
15. Takemitsu Takizaki
Founder/Chairman
Keyence
Net Worth
$28.5 billion (as of October 2021)
Industry
Technology
Country
Japan
Age
75 (2021)
Takemitsu Takizaki is a Japanese bilionaire businessman, founder and chairman of Keyence. Keyence is a well-known manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes.
The company has many big brands as its clients Toyota, Toshiba, and Volkswagen. Takizaki stepped down as the company chairman but still has a net worth of $28.5 billion, as of 16th October 2021, making him one of the richest people in Japan and Asia.
16. Masayoshi Son
Founder/ CEO
Softbank
Net Worth
US$28.20 billion (as of October 2021)
Industry
Investment
Country
Japan
Age
63 (2021)
Masayoshi Son
Masayoshi Son is a Japanese billionaire entrepreneur, the Founder and CEO of SoftBank and also the chairman of the UK based Arm Holdings. Softbank is a well-known Japanese multinational holding company that operates in the areas of broadband, fixed-line telecommunications, e-commerce, internet, technology services, finance, media and marketing, semiconductor design, etc.
The company was also ranked 36th in the list of Forbes Global 2000. Masayoshi Son’s net worth is estimated to be $28.2 billion as of 16th October 2021, making him the one of the richest people in Japan and the 16th richest person in Asia. Masayoshi was also ranked as the 45th in the list of Most Powerful People, according to Forbes.
Country Garden Holdings and Bright Scholar Education Holdings
Net Worth
US $27.3 billion (as of August 2021)
Industry
Real Estate
Country
China
Age
40 (2021)
Yang Huiyan
Yang Huiyan is a Chinese billionaire businesswoman, Property developer and a majority stakeholder of Country Garden Holdings, 70% of shares of the company were transferred to her by her father Yang Guoqiang in 2007.
The Country Garden is a property development company that constructs buildings and manages hotels in China, owned by Yang’s family. The company was ranked 147thin the Fortunes Global 500 list. Country Garden has more than 200 high-end township developments in countries like China, Malaysia, and Australia.
As of August 2021, Yang Huiyan’s net worth is estimated to be $27.3 billion, making her not only the richest woman in China but also the richest woman in Asia.
Qin Yinglin is a Chinese billionaire, founder and chairman of Muyuan Foodstuff. Muyuan is a popular pig breeding and distribution company that breeds and sells pigs and pork products. Qin is known to have started the company with his wife in 1992, and by 2019 the company made $3 billion.
The agriculture billionaire is known to be the “the country’s largest pig breeder in the world’s biggest pork market”, according to Forbes. Qin is famous as the world’s richest farmer. His net worth is estimated to be $25 billion, as of 16th October 2021. This makes him one of the richest people in China and in Asia.
Pang Kang is a Chinese billionaire businessman and the chairman of a popular food and beverage company known as Foshan Haitian Flavoring and Food Co. The company manufactures a wide variety of sauces and flavoring, it is also the largest manufacturer of Soy Sauce in the world.
Based in China’s Guangdong providence, the food company made $2.9 billion in 2019, within five years of its launch. Foshan also makes over 200 different condiments such as oyster sauce, hoisin, shrimp, vinegar, and chicken stock.
As of 16th October 2021, the net worth of Pang Kang is over $23.80 billion, making him one of the richest people in China and in Asia as well.
20. Li Xiting
Founder/Chairman
Shenzhen Mindray Bio-Medical Electronics
Net Worth
US $21.30 billion (as of October 2021)
Industry
Medical Electronics
Country
Singapore
Age
70 (2021)
Li Xiting is a Singaporean billionaire, Founder and former Chairman of Shenzhen Mindray Bio-Medical Electronics. Over the year the billionaire has been one of the pioneers in the world of healthcare. While his company is known to operate in 30 countries and have over 17 subsidiaries.
Mindray is known for its healthcare devices such as health monitoring systems, ventilators, defibrillators, anesthesia machines and infusion systems. According to Forbes, Li Xiting is the richest person in Singapore in 2020. As of 16th October 2021, the net worth of Li Xiting is $21.30 billion, making him the richest Singaporean and among the richest people in Asia.
Who are the top three richest people of the world?
The top three billionaires of the world are Elon Musk, with a net worth of $203.4 billion, followed by Jeff Bezos with $197.7 billion and Bernard Arnault with $193.2 billion, as of 16th October 2021.
Who are the top ten richest people of Asia?
The top ten richest billionaires of Asia are Mukesh Ambani, Zhong Shanchan, Gautam Adani, Robin Zeng, Ma Huateng, Zhang Yiming, Jack Ma, Li Ka Shing, He Xiangjian, Le Shau Kee.
Who are the other top people of Asia?
The other top billionaires of Asia are He Xiangjian, Ding Lei, Li Ka Shing, Yang Huiyan, Wang Wei, Pang Kang, Li Xiting, Qin Yinglin and Takemitsu Takizaki.
With the lockdowns restrictions brought over by the Covid Pandemic, most economic activities were paused, millions lost their job and many industries faced difficulties. But there were also some industries like Online gaming, Online grocery, Fintech, Telemedicine, Ed tech, online media that were boosted due to the pandemic. Another such industry that increased two fold is the e-pharmacy or online pharmacy industry.
The e-pharmacy sector in India has grown because of the increased accessibility during a pandemic and many upcoming players like NetMeds, 1MG, EasyMedico and MedLife, Apollo Pharmacy. In 2019, the global e-pharmacy market is estimated to be more than $69.7 billion and is expected to grow 17% to more than $244 billion in 2027.
Which is why 2021 is the year for the industry, as the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022. The sector is also attracting many investors as over 70% users are willing to use e-pharmacy post the pandemic, according to RedSeer survey.
In 2020, Covid 19 has pushed many consumers towards buying their medicines online. A report also shows that over 60 to 70% of the medicines that are ordered through e-pharma platforms are from chronic patients as it more affordable and accessible for them. The growth of e-pharmacy in India is evident due to the positive experience coupled with stronger adoption among low-income households.
Nowadays, many online industries are growing as people in the country are adapting to e-commerce rapidly with mobile first consumer behavior and improved digital payments infrastructure. In developed countries of North America and Europe, e-pharmacy is a flourishing market and is also structured, where the medicines are prescribed by doctors and tracked through barcoding to ensure systematic supply.
In India however, we have over eight lakh pharmacies, with pharmacies available every few kilometers. The e-pharmacies and healthcare companies have only recently grown in India because of Covid 19, improved Internet reach and smartphone penetration. The Indian e-pharmacy industry is some of well-known names in the market are Netmeds, EasyMedico and MedLife.
The growth of e-pharmacy in India
They are many startups that have also come up in the industry such as 1mg, Practo and Myra, even big retail stores like Apollo pharmacy have introduced their e-pharmacy segment.
In Indian pharmaceutical market is the third largest in terms of volume and 13th largest in terms of value. According to EY, the online pharmacy market in India is estimated to reach $2.7 billion by 2023 from $360 million which it is currently at.
In India, the retail pharma market is divided into 3 broad segments which are generic drugs, over the counter (OTC) drugs and patented products. Some of the country’s largest conglomerates and multinational e-commerce companies are looking to invest and get a foothold in this sector. For example Amazon has recently invested over $100 million in the largest Indian pharmacy chain Apollo Pharmacy.
In 2020, Reliance Retail invested Rs 620 crore to get a majority stake in Netmeds which is a chennai based startup. Tata group also acquired a a major stake in 1mg, while LGT Group and CDPQ the Canandian pension fund acquired Medlife in 2020. Even Pharmeasy is backed by the Singapore Temasek Holdings along with TPG a private equity firm from US.
Reasons behind the growth of the E-pharmacy Industry in India
Internet reach and smartphone penetration
In 2021, India has a wider internet reach because of the affordable prices of the smartphones and deployment of 4G provided by telecom providers like Reliance Jio. According to a report the number of internet users in India is said to reach 600 million by 2025. The government has also launched Digital India Program which is helping in improving broadband connectivity across the country.
Government initiatives
The Digital India Program was started by the government to digitally connect every corner of India including the rural areas and remote villages with high speed internet. The aim of this campaign was to empower citizens to gain knowledge and use the government services easily and to make people interact with the government.
Along with that, the Jan Aushadhi Program is introduced in order to ensure that the general population has access to quality and affordable medicines.
Top pharma companies in India
The increased preference towards online shopping
In the times of global pandemic, online shopping has gained a lot of popularity. This is because it is more convenient to get products delivered at home, while abiding the lockdown restrictions. Online shopping for essentials and medicines is growing at a fast pace.
Growing awareness about fake drugs
E-pharmacy has more stringent tracking mechanism when it comes to eliminating middlemen and the risk of counterfeit and sub-standard drugs.
The change in the disease patterns in India
In the last 25 years, the focus has shifted from communicable to non-communicable diseases. The disease pattern has shifted towards chronic diseases which has also lead to the increase in the demand for daily medicines. E-pharmacies provide medicines to the chronic disease patients at a lower cost than compared to retail pharmacies.
Better healthcare financial services
There has been a steady growth in the Indian financial industry, there are now better options for health insurance policy, life insurance policy, family and retirement plans, cashless claims and ease of accessing them online. These services have increased the healthcare spending which, in turn, has benefitted the online pharmaceutical industry.
The increase in domestic demand
There is an increase in the domestic demand because of growth of in capita income, changes in lifestyle due to urbanization and rise in literacy levels. Which is why the demand for advanced medical treatment is expected to increase along with the demand for pharmaceutical products.
E-pharmacy is more convenient than compared to retail pharmacy stores especially in the time of a global pandemic as the people can order their medicines from the comfort of their homes through any gadget that supports internet. This is also helpful for the elderly and patients that may not be in a condition to go find a pharmacy store.
Increased accessibility
Some medicines are hard to find in retail pharmacy stores, which is why e-pharmacy makes it more accessible to find those medicines. Retail Pharmacy only have limited stock and are expensive making it difficult for the people from the rural areas to buy medicines. E-pharmacies make it more accessible for the rural population to buy medicines.
Benefits of E-pharmacy
Lower cost
The biggest advantage of e-pharmacy is that it provides medicines at a lower cost because it has small working capital, less overhead costs, increasing margins.
E-pharmacy provides improved information
E-pharmacies usually provide value added information to consumers such as the side effects, medicine reminders, information on cheaper substitutes. It also links it to medical resources like universities, government agencies and other health association.
Authentic medicines
All medicine purchases through e-pharmacy platforms are stored digitally, making it easy to track the supply chain. This reduces the risk of fake medicines, drug abuse, and even self-medication.
The e-pharmacy market in the country is unregulated, this is because of the absence of a clear regulatory framework from India’s policymakers. The industry must be regulated because it involves the health of people.
The investors who invest in the e-pharmacy companies are also concerned about the lack of regulations in the sector. This is why a set of regulations for e-pharmacy must be implemented at the earliest.
Lack of technical Infrastructure
The key factor behind the success of any industry is a strong technical infrastructure. Even though smartphone and internet penetration rates are increasing, the rural population still don’t know about e-pharmacy and how to use it.
No awareness in the rural areas
There is huge gap between the rural population and online services like e-pharmacy. This is because people in the rural areas and remote villages lack internet connectivity and still don’t have gadgets that can access internet leading to poor connectivity.
E-pharmacies is unfavorable in the times of emergency
The one disadvantage of e-pharmacy is that when medicines are needed in emergency retail pharmacies, as e-pharmacies take more time from ordering to the delivery of the medicines. Hence why e-pharmacies are more suited for pre-planned purchases only.
Netmeds is currently one of the biggest players in the e-pharmacy industry. It provides a huge variety of medicines, healthcare products and drugs. It is one of the most popular Indian website to buy medicines online.
The company was founded in 2015 and now has a pan India presence, offering prescription, over the counter drugs and wellness products. The customers can set up their subscription for the medicines to be delivered every month and buy healthcare products such as skincare, family care, and baby care among others.
Practo
Practo is one of the most reliable online medical stores. It also has a huge catalog of medicines and healthcare products. The app offers its services to more than 100 cities and also connects millions of patients with thousands of healthcare providers around the world.
The company was founded in 2009 and has over 1,00,000 listed doctors from 310 towns and cities. The app also offers its customers to have an automated prescription refill option, allows them to check their medicine order and reorder what they want.
Top e-pharmacy websites in India
1mg
1mg is the country’s leading digital consumer healthcare platform. This app offers its delivery services to more than 1000 cities across the country. Its customers can order medicines and health products through the website and get it delivered at home from licensed pharmacies.
It also provides accurate and trustworthy information on medicines. The best part about the app is that the customers can enter the names of the medicines needed and get cheaper alternatives with the same compound. The app also offers health tips according to the medicines you order.
PharmEasy
PharmEasy is a well-known health tech startup that offers services such as online doctor consultation, medicine deliveries and diagnostic test sample collection. PharmaEasy offers more than 1 lakh products and even delivers it within 24 to 48 hours across 1.2k plus cities all across India. The app allows schedules reminders monthly and even cash on delivery services.
Apollo Pharmacy
Apollo Pharmacy offers more than 5000 products in various categories online and is also accredited an international quality certification. Apollo pharmacy over 3500 plus offline pharmacy outlets across the country.
The advantage of ordering medicines from Apollo is that the customers can order it 24/7 and get the medicines delivered on time and at their doorstep.
Medlife
Medlife is another popular online pharmacy in India that was founded in 2014. Medlife is easier for ordering medicines as the customers can just upload their prescription, confirm it on call and get the medicines delivered at their doorstep. If the customer does not have a prescription, they can also consult a Medlife doctor.
Netmeds, Medlife, Apollo Pharmacy, PharmEasy, and Practo are the top 6 e-pharmacy companies in India.
What are the challenges faced by the E-pharmacy Industry in India?
E-pharmacies is unfavorable in the times of emergency, No awareness in the rural areas, Lack of technical Infrastructure and Legal challenges are some of the challenges faced by the E-pharmacy Industry in India.
What are the benefits of E-pharmacy in India?
Convenience for consumers, Increased accessibility, Lower cost, Improved information e-pharmacy and Authentic medicines are the benefits of E-pharmacy in India.
What are the reasons behind the growth of the E-pharmacy Industry in India?
Internet reach and smartphone penetration, Government initiatives, The increased preference towards online shopping, Growing awareness about fake drugs, The change in the disease patterns in India, Better healthcare financial services and are the reasons behind the growth of the E-pharmacy Industry in India.
How big is the e-pharmacy industry in India?
In 2021, the e-pharmacy market in India is estimated to be over $512 million in 2018 and is estimated to grow at a CAGR of 63% to reach $3,657 million by 2022.
Conclusion
With the current situation of the global pandemic and the changing seasons, online pharmacies are the best option to buy your medicines. As the people will not have break the lockdown restrictions and go out to buy medicines from the local medical store.
Online pharmacies are more convenient as the medicines are delivered safely and at the comfort of your home. E-pharmacy is cheaper than compared to the retail pharmacies and it’s also offers discounts and cashback. The industry is said to increase two-fold in coming years and become one of the biggest industries.
Nitin Konde
