Ratan Tata invested an undisclosed amount in a pharmaceutical start-up Generic Aadhaar, run by an 18-year-old Arjun Deshpande
“When Sir Ratan Tata came to know about the business plan, he was impressed and decided to be a part of this mission in a personal capacity and help Generic Aadhaar to reach every Indian," said Deshpande.
It sources generic drugs directly from the manufacturer and sells it to retail pharmacies, eliminating 16-20% wholesaler margin. These pharmacies are single medical stores which otherwise face competition from big brands and online pharmacies, already tied up with 30 retailers from Mumbai, Pune, Bangalore & Odisha following a profit-sharing model. Claims to have an annual revenue of Rs 6 crore and is looking at a revenue of Rs 150-200 crore in the next three years.
In the coming months, Deshpande plans to partner with 1,000 pharmacies on a franchisee-based model and expand his reach to cities like Gujarat, Tamil Nadu, Andhra Pradesh and New Delhi. Generic Aadhaar will provide all the support to the unorganized sector by bringing the right technology, IT infrastructure and branding to the forefront. The company has about 55 employees, which include pharmacists, IT engineers and marketing professionals.