Leading a healthy life is a blessing in the present world. Our food and lifestyle lead us to various diseases. The expense of treatment increases as a disorder’s severity does. The major portion of an average family man’s budget goes toward his basic needs and the rest on medicines. The pharmaceutical industry researches, develops, manufactures, and distributes pharmaceutical drugs. These drugs are used to give treatments to patients, intending to cure them, immunise them, or relieve their symptoms. Medicines and medical equipment sold by pharmaceutical businesses may be branded or generic. They should follow several laws and rules that control the marketing, testing, safety, and efficiency of pharmaceuticals, as well as their patenting.
The Changemaker
The Misery of Ordinary People in India
In India, 60% of the population lacks regular access to necessary medications. Even though 8% of the medicines produced in India, are sold on the worldwide market. The majority of outpatient medical care in India is provided by the private health sector. Doctors prescribe branded medicine as an outcome of the drug company-doctor interface. Sometimes ordinary people can’t afford it. As a result, many patients have experienced miserable sleepless nights. Arjun Deshpande, Founder and CEO of Generic Aadhaar created a solution for this problem of expensive medicines faced by consumers.
Beginning of Arjun’s journey
When Arjun was 16 years old, he saw an old man asking a medical store owner for prescription drugs for his sick wife who was suffering from cancer. The man asked for credit because he lacked the money to pay for them. Arjun was touched by the situation of that financially struggling person and decided to do his part. He set off on his Generic Aadhaar adventure with nothing more than a dream and the desire to succeed.
Arjun’s Solution to the Problem of Expensive Medicines
A revolution has been created in this traditional pharmaceutical sector by Generic Aadhaar. They decided to provide pharmacy franchises in India to assist small company owners and entrepreneurs who desire to launch their ventures.
Arjun Deshpande entered this new domain and undermined the conventional pharmaceutical sector for the good of all Indians. Millions of Indian youth were impressed by him, and he gave them the courage to dream big and think unconventionally. He inspires not only the nation’s aspiring entrepreneurs but also all youths.
Founder and CEO of Generic Aadhaar
After his remarkable contributions to the nation, he has been invited to several international and national platforms, including IIT Mumbai, IIT Delhi, CPhI, MSM, DPU, Blackbook Germany, and many more.
He gives young people a sense of a greater mission. Commenting on the development, Arjun Deshpande said, “My goal remains to build Generic Aadhaar as an organisation focused on creating an impact on the Indian healthcare ecosystem by making medicines affordable to our country’s 130 crore people”.
In addition to providing high-quality, low-cost drugs, he also wants to engage a large number of employees. This selfless achiever offers hopeful youngsters positions in his organisation. He is guiding these young people toward a common goal while climbing this ladder of achievement by holding their hands.
Generic Aadhaar
Generic Aadhaar offers generic medicines directly from manufacturers using a novel pharmacy-aggregator, profit-sharing business model. The products are subsequently provided to the retail pharmacies, reducing the 16–20 per cent wholesaler margin as well as other layers of margins. It gives local entrepreneurs user-friendly software that manages invoices and billing and is developed for business growth. The common man can order the medicine at the same discount from nearby shops.
Today every Indian state has a Generic Aadhaar in use. They have created micro-entrepreneurs in every corner of our country. Generic Aadhaar has its franchise in 150+ cities with a portfolio of 1000+ products. Around 8000 people now have direct and indirect jobs in generic Aadhaar.
Deshpande with Legendary figure Mr Ratan Tata
Generic Medicines And Branded Ones
The conditions under which the drugs are produced differentiate generic medicines from branded ones. Generic medicines are those made using the same active ingredient as brand-name medicines, whereas in brand-name medicines, the names are given by the producing company.
The same active components found in the brand-name drug are also present in generic medications, which have reached the market under alternative brand names. But in terms of the drug’s efficacy, generic medicines have the same high-quality active component as brand-name medicines.
Recognitions
Legendary figure Mr Ratan Tata had invested in this flourishing businessman’s creative and admirable purpose. In addition, he was invited to numerous international and national Platforms, including IIT Mumbai, IIT Delhi, CPhI, MSM, DPU, Blackbook Germany, and many more, after his remarkable contributions to the nation. He has received five TEDx invitations. Recently Generic Aadhaar had raised an undisclosed amount as part of Pre-Series A funding from Japanese venture capital firm Beyond Next Ventures at a valuation of ₹500 crores. The additional funding would be used to make investments in digitisation, increasing the number of franchisee stores from 1500 to 3000 across India, and broadening the selection of pharmaceutical products.
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