Scope of Investment for Generic Medicine Entrepreneurs

0

You are reading Entrepreneur India, an international franchise of Entrepreneur Media. This story originally appeared on Franchise India

Do you plan to get into the generic drug business? If so, then getting a franchise and pursuing your passion might be the right step. (short para)

Shutterstock.com

Being the largest generic drug supplier in the world, India has a lot to do for franchisors investing in the generic drug industry. The industry is expected to grow at a GACR of 22.4% by 2020. Currently, 80% of the generic drugs used to fight AIDS in the world are exported from India.

What is Dava India?

Generic drugs contain the same ingredient, with comparable strength and similar effectiveness in treating the problem. Dava India is an initiative of Zota Health Care Ltd, aimed at helping people access generic alternatives to the more expensive brand name drugs available in the market.

Ketan Zota, MD, Zota Health Care Ltd. said, “The quality of generic drugs and branded drugs, the amount of medicinal content they contain, and their production system are almost the same. Thus, Dava India will eliminate the hesitation to adopt generic drugs, which will ultimately save money. Discounts ranging from 30% to 90% are available on these medicines and drugs for the treatment of many diseases.

Franchising plans

The Surat based company, Zota Healthcare limited manufactures and markets pharmaceutical products domestically and internationally.

They aim to become a world-renowned pharmaceutical company with nutraceuticals and Ayurvedic products as key components. Dava India will open 3,000 generic stores in two years, eliminating the high cost of treatments and drugs.

Opportunities

“Dava India” will offer up to 1200 medicines, 300 cosmetics, nutritious herbal medicines, over-the-counter (OTC) products and surgical products, meeting almost all consumer needs. Additionally, there is also a provision for a “Customer Service Center” to help resolve customer queries on a regular basis.

Hence, franchisors can take advantage of this opportunity as people have started to understand that there is no difference in quality between generic and brand name drugs. Keeping the numbers in mind, other franchises should emerge.

This article was originally posted on Franchise India by Shahram Warsi.

Share.

About Author

Comments are closed.