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 Generic Aadhaar.
As per statistics, about 60% of Indians cannot afford to buy their daily medicines. The reason behind this inability is the high cost of medicines which are absolutely unnecessary in the Indian pharmaceutical market. About 85-90% of the medicines in the market are generic variants which ideally should be available at pocket-friendly prices. However, people end up paying enormous amounts for these drugs as the manufacturer has made it a wholesale business. The irony of the matter is that generic medicines are supposed to be dirt cheap.
Realizing the gravity of the situation, Generic Aadhaar has embarked on a mission to make generic medicines available to all Indians at an affordable price. It has disrupted the conventional pharma industry and is determined to empower single-store owners and pass on the benefit to the end customers.
Generic Aadhaar – Company Highlights
| Company Name | Generic Aadhaar |
|---|---|
| Headquarters | Mumbai |
| Founder | Arjun Deshpande |
| Founded | 2018 |
| Sector | Pharmaceuticals |
| Registered Entity Name | Swasthya Lifescience Pvt Ltd. |
| Website | genericaadhaar.com |
Generic Aadhaar – About and How it Works
Generic Aadhaar – Founder
Generic Aadhaar – How It All Started?
Generic Aadhaar – Name, Tagline, and Logo
Generic Aadhaar – Vision and Mission
Generic Aadhaar – Target Market Size
Generic Aadhaar – Products and Services
Generic Aadhaar – Business and Revenue Model
Generic Aadhaar – Startup Launch
Generic Aadhaar – Challenges
Generic Aadhaar – Advisors and Mentors
Generic Aadhaar – Achievements and Recognitions
Generic Aadhaar – Future Plans
Generic Aadhaar – FAQs
Generic Aadhaar – About and How it Works
The venture provides high-quality generic medicines from pharmaceutical manufacturers at cheap prices and increases the accessibility to these medicines all over India. Generic Aadhaar follows a unique pharmacy-aggregator, profit-sharing business model to source generic drugs directly from the manufacturers. The items are then given to the retail pharmacies, thereby eliminating the 16-20 percent wholesaler margin along with other layers of margins such as C&F agents in the trade.
The most important differentiator in the case of Generic Aadhaar is the fact that the inventory-carrying cost is very low when compared to stores that stock branded drugs. Since the stores are minimally designed, the overall cost of maintaining the business for franchises is also low. In addition, Generic Aadhaar helps small pharmacies earn double the profits and allows them to stay relevant in the market through the affordable medicines it provides.
Generic Aadhaar ensures that the franchise is taken by an FDA licensed retailer. The retailer should be a pharmacist; if not, he or she should appoint one before the franchisee is taken. The Generic Aadhaar team helps with branding and provides IT support and medicines to the outlet.
Ashwini
Generic Aadhaar – Founder
Arjun Deshpande founded Generic Aadhaar.
Started with a sole mission of making medicines available to every Indian, a 16-year-old set his eyes on the pharma industry in 2018. At this novel age, Mr. Arjun Deshpande, one of India’s youngest and most dynamic entrepreneurs founded this innovative venture, Generic Aadhaar.
Generic Aadhaar – How It All Started?
Arjun’s mother work in the pharma space. When he was around 14 years old, he had visited various pharmaceuticals companies and plants along with his mother and that’s when he understood that generic medicines are sold in the market at the same price as the branded ones. He noticed that the various countries he visited, import generic medicines from India and make them available to the masses at affordable rates. He wondered, “Why is this not the case in India when we are the manufacturing hub for pharmaceuticals?”
It stroked him and gave rise to the vision of creating a brand identity through ‘Generic Aadhaar’ outlets. He found that the extra cost for generic medicines could be reduced. What does he do then? He tied up with WHO and GMP-certified pharmaceuticals and directly started providing his franchise’s pharmacist with the medicines that are produced in WHO GMP-certified pharmaceuticals companies. This helped to reduce the cost of medicines by nearly 80%. Arjun, inspired by Ratan Tata, wanted to serve the nation through his generic medicines initiative.
Devashish Shrivastava
Generic Aadhaar – Name, Tagline, and Logo
Generic Aadhaar, the name says it all; it will give aadhaar to the customers on their medical bills on every purchase of Generic medicines. As a pharmaceutical company, Generic Aadhaar went for a white and green color combination. This combination is symbolic of the healthcare segment.
The tagline of Generic Aadhaar is “Dawaiyan Kifaiti Daarome Lejayiye Aapne Gharome” which means that their company revolves around access to affordable medicines.
Generic Aadhaar – Vision and Mission
Vision: Generic Aadhaar is a pharmaceutical company with an aim to bring all small medical stores under one roof and help them to earn huge profit margins. It will support you to compete with big retail medical outlets giants and online pharmacies and help the citizens to avail good discounts on all medicines through generic aadhaar stores.
PV Vyshnavi
Generic Aadhaar holds a long-term vision of assisting the underprivileged sections for the betterment of India.
Mission: To serve customers by giving affordable quality healthcare medicines. To pull out all the stops to ensure no Indian is barred from the availability of generic medicines. The company is determined to empower single-store owners and pass on the benefit to the end customer.
Chayanika Goswami
Generic Aadhaar – Target Market Size
India is a massive hub for medicinal drug intake and consumption. To cater to the underprivileged people who cannot afford high branded medicines, the Mumbai- based Generic Aadhaar is planning to expand its pan-India reach by opening more than 800 plus retail outlets across India. The company is currently operating 45 outlets in cities like Mumbai and Pune.
The pharmaceutical entity wants to touch every corner of India in the next five to seven years. It is getting calls from all parts of India for extending its franchise outlets. Generic Aadhaar is also working on an initiative called “Entrepreneurs Under One Umbrella.” Under the Generic Aadhaar umbrella, they provide quality medicines from reputed pharma companies by offering up to 80% lesser prices. It provides the biggest portfolio of Generic medicines from government-approved quality manufacturing facilities.
Chayanika Goswami
Generic Aadhaar – Products and Services
Generic Aadhaar provides affordable generic medicines (particularly for the underprivileged class of India) through its outlets that are present across the nation. The medicines sold by the company cover all types of ailments like minor diseases or life-threatening illnesses. The USP of the company is the pharmacy-aggregator business model wherein it sources generic drugs directly from the manufacturer and hands them over to the drug retailer who delivers medicines to the masses at cheap rates.
Lakshya Singh
Generic Aadhar supports single-retail drug stores all over India. It provides medication directly from the WHO-GMP pharmaceuticals and has tied up with drug retailers from Mumbai, Pune, Bangalore, and Odisha in a profit-sharing model.
Generic Aadhaar – Business and Revenue Model
Generic Aadhaar follows a B2B2C model. It is appointing franchisees across India by aggregating single medical stores that are in bad shape due to the intense competition in the pharmaceutical segment. The company is passing on various benefits to the franchise owners.
Generic Aadhaar has introduced a business model that can support multi-disciplinary medications. The stores are equipped to sell all types of allopathy medicines. The company is actually complementing the Indian government’s effort of making affordable medicines available to everyone.
Generic Aadhaar’s franchising model helps in generating employment for the youth in India and also promotes entrepreneurship. While taking stock of the customer’s advantage, Generic Aadhaar ensures that small chemists and retailers earn the benefits of the business too. The medicines are given to the pharmacies at their manufacturing cost which is then sold to customers, thereby reducing the retail price up to 80 percent. The organization also collaborates with the manufacturers by increasing their supply as demand increases, thus manufacturing facilities, in turn, double their profits. Generic Aadhaar protects the interests of customers, retailers, and manufacturers alike.
Chayanika Goswami
Generic Aadhaar – Startup Launch
Generic Aadhaar started this venture for helping and benefiting the people of India. Earlier there were very few targeted people but now, by word of mouth they are able to expand Generic Aadhaar outlets across India. Due to affordable medicines, they are growing and getting demands for their brand “Generic Aadhaar” as an identity in India.
They are not only aiming in their business growth but also, to be the best in providing Generic Medicines to every Indian through their venture. Most of the senior citizens who purchase generic medicines have cut their medical bills up to 50% with the same effect of Branded Medicines.
Lakshya Singh
Generic Aadhaar – Challenges
The biggest challenge for Arjun Deshpande, the founder of Generic Aadhaar, was to make people aware of generic medicines and build their trust in such medicines. Buyers were more inclined towards branded medicines that were quite expensive when compared to their generic counterparts.
With passing time, misinformation on generic medicines gradually dispelled and Indians started to realize the benefits of purchasing them. During the COVID-19 pandemic, the Prime Minister also encouraged Indians through the ‘MAKE IN INDIA’ and ‘Aatmanirbhar Bharat’ campaigns to purchase generic medicines and support Indian pharmaceutical brands on both national and international levels.
Nothing seems to stop Generic Aadhaar at the moment! Indians are now building reliance on the company’s outlets for the purchase of medicines.
Generic Aadhaar – Advisors and Mentors
Shri Ratan Tata is Generic Aadhaar’s sole mentor and guru. He also invested an undisclosed amount in the innovative venture.
Ashwini
Generic Aadhaar- Achievements and Recognitions
Arjun Deshpande, the brain behind Generic Aadhaar, has several recognitions bestowed upon him.
- At Asia’s Biggest Entrepreneurship Awards 2020, Arjun Deshpande was awarded “Young Entrepreneur of the Year” by Mrs. Madhuri Dixit Nene.
- Young Achievers Award 2020 by Indian Achievers Forum India (IAFI).
- Dynamic Entrepreneur of the Year 2020.
- Indian Pharmaceutical Manufacturing Association felicitated him in the presence of the Chief Minister of Gujarat in 2019.
Being a young entrepreneur doesn’t mean he lacks experience; Arjun has always demonstrated his presence and abilities by sharing his journey infamous talk shows as a key-note speaker.
- TEDx Bangalore – 2019
- CPHI China – 2019
- IIT Mumbai – 2019
- Dayanand Sagar, Bangalore – 2019
- KIIT University, Bhubaneswar – 2019
- IIT RGPV Bhopal – 2019
Generic Aadhaar – Future Plans
Generic Aadhaar is rapidly expanding the presence of its franchise outlets in India. The company wants to reach every corner and every Indian in the future coming years. Today they have extended to 130+cities across India, but later they are planning to reach every corner it may be not only tier-1 cities but also tier-3 cities and rural towns of India, where there is more requirement. They want to be the only brand that never fails to provide Medicines of Different segments in India.
Generic Aadhaar – FAQs
What are Generic Medicines?
A generic drug is a non-branded medicine that is cheaper as compared to the original branded drug. It has the same active pharmaceutical ingredient (API) but it costs 30-80% less compared to the original ones. It is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by patents. Generic drugs are allowed for sale after the patents on the original drugs expire.
Who is Arjun Deshpande?
Arjun Deshpande, a teenager and a founder of “Generic Aadhaar – the fastest growing pharma company”, managed to convince Ratan Tata to invest in his startup. He is the youngest entrepreneur of India in the pharmaceutical sector.
Why you should buy from Generic Aadhaar outlets?
The team at Generic Aadhaar works aggressively towards making the largest portfolio of quality generic and branded medicines available at its outlets, at prices up to 80% lower than their branded counterparts in Generic Medicines.
Why are Generic medicines cheap?
Generic medicines are cheaper because it doesn’t have to face the brand name and manufacturing cost. The drugmaker doesn’t have to undergo the invention or marketing cost as the chemical formula.
Are the medicines prescribed by doctors are Generic medicines?
In India, 80-85% of prescribed medicines are Generics. However, due to immense marketing by the pharma companies, the price benefit does not reach the patients and even the generic medicines are costing much higher.
Who introduced generic medicines in India?
The Government of India launched the Pradhan Mantri Bhartiya Janaushadhi Pariyojana in 2008, under which it would provide good-quality generic drugs at affordable prices. So far, it has opened 7,290 distribution centers around the country; there should be more.
