Generic medicines’ leader Davaindia set to get into online mode

Davaindia is looking at new geographies outside India. At present, the company exports its generic medicines directly from its plant at Surat to many countries in African, Russian and Asian continents

Buoyant over the growth of generic medicines, Davaindia, an arm of Healthcare Ltd and India's largest private generic pharmacy retail chain, is on an expansion mode. The generic medicines market reached a substantial valuation of $24.53 billion, and it is projected to soar to $36.51 billion by the year 2028.

This robust expansion is fuelled by the escalating demand for generic drugs, primarily within the hospital and clinic sectors. The Surat-headquartered company has drawn up an ambitious plan of increasing the number of its retail outlet to over 1000 within the next one year. Most of its retail expansion will come from West Bengal, in particular, and the eastern region, as a whole. At present, its outlets are spread across 885 locations in the country, including 75 in West Bengal where it expects to more than double the tally over the next one year, pointed out Dr. Sujit Paul, the Group CEO, Zota Healthcare.

He said that at present 14 of the 75 outlets in Bengal are company-owned, while the remaining ones are franchise-owned. Going forward, the company intends to have more company-owned outlets, he said.

He said that infusion of fresh capital to back up their expansion plans should not be a problem for the company.

“As an organisation we strive to ensure that every household in West Bengal gets access to affordable high quality generic medicine and wellness products. Our endeavour is to create outreach in the rural areas of West Bengal and also to ensure healthcare for all through deep penetration programs, which will touch 10 crore lives. Our commitment to provide affordable and high-quality generic medicines remains unwavering,” said Paul.

While expanding its retail footprint on the domestic front across India, the company is also looking at new geographies outside India. At present, the company exports its generic medicines directly from its plant at Surat to many countries in African, Russian and Asian continents. The company is now eyeing many other countries in these regions. "We are not looking at Europe or the US at this point," he added.

Responding to the growth of online pharmacy, the company is also gearing up to get into the online mode soon. "We are working on this and hopefully our online model will get off the ground in six months from now," said Paul.

The other thrust of the company, in the days to come, would be to create awareness about generic medicines through advertisements, campaigns on print, audio-visual and digital media, road-shows, leaflet and other innovative platforms and mediums.

"We will throw some light on the efficacy of generic drugs and dispel the misconceptions surrounding them vis-à-vis the branded ones. It is our responsibility to contribute to the welfare of the society beyond the commercial endeavours. Hence a slew of initiatives & campaigns have already been executed Pan-India," he said.