MedPlus estimates 50-60% revenue from’store generics’ during the next three years.

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MedPlus estimates 50-60% revenue from'store generics' during the next three years.

Inspired by the US-based CVS and Walgreens pharmacy store chain brands, MedPlus has launched the ‘Store Generic’ medicines in India. The omni-channel retail pharmacy and diagnostics chain based in Hyderabad offers over 600 off-patent medicines of its own brand at its network of 4,200-plus pharmacies.

The retail chain has collaborated with India’s leading CDMOs (contract drug manufacturing organisations) such as Akums India, Gangadi Madhukar Reddy, MD-CEO, MedPlus Health Services, announced to a team of visiting journalists here on Wednesday.

This strategic initiative involves the production of acute and chronic medicines in factories complying with EU GMP, WHO GMP and GMP standards. The collaboration and the absence of marketing and distribution channel costs allowed MedPlus to offer deep discounts of up to 50-80 per cent with quality assurance to its customers, Reddy sought to point out.

Following its success in Telangana, MedPlus introduced Store Generics in Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, West Bengal and Odisha in recent months. Over 26.2 lakh customers have saved more than Rs 139.7 crore from this model in the last six months across seven states in India by buying MedPlus Brands, as per a release. With its extensive retail pharmacy network across ten states in India, MedPlus caters to over one crore customers every month.

“As we introduce Store Generic model in India, offering deep discounts to our customers, we understand the foundation of a high-quality drug lies in the meticulous details of its production,” he said. “Our manufacturing partners – Akums Drugs & Pharmaceuticals, Windlas Biotech and others are renowned for their excellence in pharmaceutical manufacturing, aligning seamlessly with our vision to provide quality and genuine medicines to customers,” Reddy said, noting that Akums manufactures 70 per cent of the 700-odd medicines that are being dispensed by MedPlus.

Akums is well equipped with 15 manufacturing facilities to produce pharmaceutical formulations in almost all dosage forms and therapeutic segments to cater to medicinal requirements across the globe. Incidentally, Akums Drugs and Pharmaceuticals caters to the needs of leading pharma companies such as Abbott, Cipla, Dr Reddy’s and Torrent, a fact revealed during a visit to its oral dosage forms plant here, touted among Asia’s largest facilities.

In India, approximately 800 molecules suffice to cover around 90 per cent of our medicinal needs. All these medications fall under the category of generics and MedPlus possesses the capability to produce them through its manufacturing partners. Notably, the remaining 10 per cent are made up of patented drugs, which neither MedPlus nor any other entity can replicate.

MedPlus employs advanced technologies and thorough inspection processes to validate the authenticity of every medication in its inventory. It sees itself as the first organised pharmacy retailer in the country to introduce 20 pc discount on all branded medicines and continues to set newer benchmarks in the market.

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