Ratan Tata invests in 18-year old’s pharmaceutical start-up Generic Aadhaar
Team Udayavani, May 8, 2020, 11:20 AM IST
Ratan Tata, Chairman of Tata Group has invested an undisclosed amount in the pharmaceutical start-up Generic Aadhaar in his personal capacity
The company is run by its 18-year-old founder and CEO Arjun Deshpande who began his venture at 16 with an aim to bring affordable medicines to the masses.
Generic Aadhaar is a pharmacy-aggregator which sources generic drugs directly from the manufacturer and provides them to the retailers, thereby cutting out the middlemen completely.
Generic Aadhar has already tied up with 30 retailers from Mumbai, Pune, Bangalore, and Odisha following a profit-sharing model. The company has currently employed 55 people which include pharmacists, IT engineers, and marketing professionals.
Arjun Despande says that his primary goal is to protect the smaller family-owned stores in the country by giving them access to inexpensive generic medicine.
Currently the company supplies diabetes and hypertension drugs but will soon start offering cancer drugs at much lower rates than the market price. As of now, the start-up claims to have annual revenue of Rs 6 crore. Deshpande is aiming at a revenue of Rs 150-200 crore in the next three years.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex reclaims 80k mark; Nifty surges over 1% after BJP-led Mahayuti’s win in Maharashtra
Rapid digital expansion to create over 1 lakh new jobs in fiber tech in India in next 5 years
Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
Air India Express increases flight operations from northeast destinations
Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle
MUST WATCH
Latest Additions
Wanted to kill Ajmal Kasab who caused so much of pain, recalls 26/11 terror attack victim
Two retired revenue officials among four arrested in land grabbing case in Jammu
Kerala govt to revise manual for junior doctors, house surgeons
State can interfere with religious practices if they impede development, equality rights: SC
Four cheers at MP’s Kuno park; cheetah Neerva gives birth to cub quartet
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.