The generic drug chain plans to double its commercial footprint

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AHMEDABAD: Omnichannel generic drug retailer, Medkart, on Thursday announced plans to double its retail footprint by adding 100 more stores in the coming years. The Ahmedabad-headquartered generic drug retailer already has a presence in over 100 stores in Gujarat, Rajasthan and Maharashtra. The announcement was made in Rajkot on the sidelines of the launch of five stores in the city.
By expanding its store network in key Gujarat markets, Medkart, which recently raised Rs 40 crore in its Series A funding round in November 2021, aims to strengthen its business footprint.
Ankur Agarwal, co-founder of Medkart, said, “The launch is very much in line with our expansion plans to be able to strengthen our retail presence. Our goal is to make the best quality medicines available to our customers. We at Medkart have successfully reduced household medical bills by up to 85% and by far we have helped our clients (6 lakh families) save Rs 250,000,000 on their medical bills over the past seven years. »
According to a report by Niti Aayog published in 2021, at least 30% of India’s population, or 40 million people, lack any financial protection for health or any program to support health expenditure.
“Necessary steps must therefore be taken to promote generic medicines in India, a country where the burden of chronic diseases and lifestyle diseases is very high and continues to grow,” said Parasharan Chari, co-founder of Medkart.
Very recently, the National Family Health Survey (NFHS)-V revealed that the number of diabetics had more than doubled in four years in Gujarat.
“Based on our data, household medical bills tend to increase at least threefold, even if someone in a household has a chronic or lifestyle-related illness. generics can be a game-changer here Affordable healthcare is key to reducing the financial burden of increasing incidents of chronic disease on GDP Strengthening our retail presence is extremely crucial to our mission to helping people reduce their home medical bills,” added Chari.
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