Generic Download ((FREE)) Aadhaar

A generic drug 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. Because the active chemical substance is the same, the medical profile of generics is believed to be equivalent in performance. A generic drug has the same active pharmaceutical ingredient (API) as the original.

Generic Aadhaar's innovation stems from its goal to make medicines affordable, available, and accessible to all Indians. Their primary innovation is their model of operation in which they act as pharmacy aggregators. Initially, this was by distributing to retail pharmacies. However, Generic Aadhaar has since expanded into franchising and setting up Generic Aadhaar shops. Their most recent disruptive innovation was their online mobile application to connect generic drug retailers to customers digitally.

Generic Download Aadhaar

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The need for a business such as Generic Aadhaar stems from the high prices in the Indian pharmaceutical market. Our interviewee, the founder of Generic Aadhaar, Mr. Arjun Deshpande, decided to disrupt the conventional pharma industry by making generic medicines accessible to single medicine retailers. Traditionally, in India, retailers don't have access to generic drugs, forcing them to buy name-brand medicine.

These medicines are extremely expensive because large pharmaceutical companies attempt to recuperate their own marketing and research & development costs. Additionally, even generic drugs are expensive. Almost 90% of medicines in India are generic, and large pharma companies continue to make profits by branding them and selling products at high margins. Fortunately, Generic Aadhaar ensures several such drugs are available and accessible to millions of Indians without branding and make them affordable.

Generic Aadhaar sells generic drugs including those for thyroid, hypertension, and diabetes, at prices that are up to 50% less costly than name-brand medicines. Generic Aadhaar often buys directly from the manufacturer, doesn't spend a lot of money to advertise, and passes the savings on to customers. In the future, the company plans to offer cancer drugs at lower prices and eventually COVID - 19 vaccines and therapeutics once they are made generic.

Arjun was inspired by his mother, who is employed in the global pharmaceutical industry. He used to travel to Vietnam, China, the USA, and Dubai during his school holidays. He then had meetings with importers, distributors, and Ministry of Health Authorities where he learned that people in these countries have access to affordable medicines. After a brief conversation with his mother about medicines sold at comparatively high prices, he learned that most generic medicines in India are promoted as branded medicines which raise their cost.

Arjun says "These are necessities. Everyone has the right to access good quality medicine at reasonable rates. Medicines do not count as luxury commodities." Generic Aadhaar wants to reach every Indian with affordable medicines. Generic Aadhaar holds a long-term vision of assisting the underprivileged for the betterment of India. The company is willing to pull out all the stops to ensure no one is denied generic medicines. For a country with a population of 1.3 billion and unorganized pharma MSMEs, this allows for an incredibly vast potential consumer base

The biggest challenge they faced was raising awareness of generic medicines and building the general population's trust in products without name-brand logos. Buyers were more inclined towards branded medicine that were quite expensive when compared to their generic counterparts. Over time Indians have started to realize the benefit that generic medicines provide.

We have grown up by leaps and bounds in last 2 years. All the major cities has the generic aadhar franchise today. Because of selling affrodable medicine from our retail outlets we have received overwheling response from the customers.

At the age of sixteen years, Deshpande started Generic Aadhaar to sell generic medicines that are up to 80% cheaper than branded medicines in the market. Besides, generic medicines do not require research or intermediaries to sell them in the market. The startup directly sells its products to consumers via its franchise-owned stores thus, offering up to 40% margin to store owners.

When Arjun Deshpande was 16, he founded a company that offered medicines at a cheaper rate than usually available in the market. At 21, Deshpande is the CEO of Generic Aadhaar which sells generic medicines via its chain of franchisees at 80-90 percent discounts. The Mumbai-based startup is now worth Rs 500 crore and has the backing of legendary industrialist Ratan Tata.

At a time when people are reeling under the double whammy of rising inflation and the pandemic, a startup named Generic Aadhaar is delivering quality generic medicines at up to 80% lower prices as compared to branded counterparts to end-users directly, eliminating middlemen costs. Its pharmacy-aggregator franchise model, with a special focus on tier-II and tier-III cities, enables consumers to order medicines via the Generic Aadhaar app and have them delivered within two hours. Customers can also walk in to Generic Aadhaar pharmacies to buy medicines. In case the prescription mentions a branded drug, the chemist at the store can suggest the generic salt formulation.

Generic medicines are chemically similar versions of an original one, only less expensive. A dynamic segment that has been thriving in India with multiple brands for several decades, the sector now sees policy evolve across healthcare service aggregators, e-pharmacies, and data safety. And it is in this overall landscape that affordable generic ventures are gaining ground.

Having raised the need for greater governance of the online pharma retail space, JS Shinde, President, All India Organisation of Chemists and Druggists said stringent rules were required to prevent the sale of spurious and duplicate drugs. He is, however, more accommodating on the proliferating ventures in the affordable generics space. There is no problem if these ventures are licensed players under the ambit of the Drugs and Cosmetics Act (1940), he said, in which case, they are governed by rules in terms of production, storage, promotion, discounts. And this becomes important for consumers, he says, who need to be assured of the safety and quality of the medicine they take.

Customers can then use their Aadhaar card to purchase generic medicines at the pharmacy. This will help reduce the cost associated with purchasing generic medicines and increase customer satisfaction.

The app, launched by Ratan Tata yesterday in Mumbai, has facilities to upload prescriptions and place orders. The medicines will be delivered from the nearest generic Aadhaar franchise store. The 'Generic Aadhaar's Mobile App' will help the standalone retail stores across India face competition from online pharmacies and also customers can get faster delivery from their nearest location via this App, said Arjun Deshpande, the 18 year old CEO and founder of Generic Aadhaar.

"It's good that we are now reaching to the masses and going towards generic medicines through Generic Aadhaar and uplift the healthcare capability of the country. I hope this movement grows over the years, also with this urge to serve the people, comes the responsibility of providing medicines of the requisite quality at affordable prices to the people," said Ratan Tata.

Generic Aadhaar, started by Arjun Deshpande two years ago, follows a unique pharmacy-aggregator business model - it sources generic drugs directly from manufacturers and sells to pharmacies, eliminating 16-20 per cent wholesaler margin. Tata Group patriarch Ratan Tata picked up a stake in 'Generic Aadhaar' for an undisclosed amount in May as a token of support and encouragement to the entrepreneurship of the teenager.

The signing of agreements by U.S. pharmaceutical giant Gilead with seven Indian generic drug manufacturers, licensing them to make its blockbuster drug sofosbuvir for treatment of killer disease Hepatitis C could be a show-case of how innovative and generic companies could work together for access to affordable medicines, Indian Pharmaceutical Alliance (IPA) Secretary-General D. G. Shah said here on Tuesday. 17dc91bb1f