In 2018, 16-year-old Arjun Deshpande started a business selling cheaper drugs.
At 21, Deshpande is the CEO of Generic Aadhaar, a firm that sells generic drugs through franchisees at 80%–90% discounts.
Deshpande’s Generic Aadhaar gives up to 80-90% savings on WHO-GMP-approved drugs, whereas most huge pharma firms can only offer 10% to 15%.
Ratan Tata sponsored Mumbai’s Rs 500 crore company. Generic Aadhaar eliminated marketers, distributors, and stockists to drastically lower prices.
According to CNBCTV18, Generic Aadhaar sells the anti-allergen Levocetirizine for less than Rs 6 each strip, whereas the diabetic drug Glimepiride costs Rs 110 every strip.
How did Ratan Tata invest in Arjun Deshpande’s Generic Aadhaar?
In its first several years, Generic Aadhaar spread across cities, earning Deshpande his first TED talk, which went viral and caught Ratan Tata’s attention. After seeing the company’s innovative model, the industrialist offered to invest.
Ratan Tata helped Generic Aadhaar finish its nationwide rollout. The startup employs 10,000 workers in over 2,000 outlets nationwide. The company is expanding to Bangladesh, Nepal, Bhutan, Sri Lanka, the UAE, and Myanmar.
The company wants 3,000 stores and veterinary expansion. Deshpande, 21, feels cheap animal treatments would help farmers.
Generic Aadhaar helped Odisha train accident
He asked for help at this difficult time and ordered his team of over 50 Odisha chemists to provide all necessary aid, including free drugs.
CPhI, MSM, DPU, Blackbook Germany, and IIT Mumbai and Delhi have invited CEO Deshpande to national and international forums, according to the firm’s website. He has five TEDx invites.
