Starts with Chennai as the distribution hub, to expand its warehousing presence to 16 cities by 2016
The Dadha Group owned NetMeds.com has announced the commencement of its operations.
Billing itself as ‘India Ki Pharmacy’, the site offers an impressive selection of both prescription drugs and non-prescription products (OTC) drugs, supplying over 25,000 stock keeping units (SKUs) across India from its first warehousing hub in Chennai.
Company plans to offer 24-hour delivery in Chennai and two to four-day delivery in other cities of the country. NetMeds plans to expand its presence by setting up warehouses through tie-ups in 16 metro and non-metro cities in next 12-18 months period.
The portal offers prescription medication users an opportunity to select their required medications from more than 260 drug categories for the chronic conditions, such as diabetes, hypertension and cholesterol control.
Commenting on the occasion Pradeep Dadha, Promoter, NetMeds.com said, ‘Not everyone knows the exact name of the tablet they are taking, but they all know the condition they’re dealing with. Likewise, they may not be able to read their prescription, but that’s where our pharmacists can help. With this portal we aim to reach the third-tier cities and more remote areas where drug availability is limited. Prescription medicines will be dispensed strictly and only against a valid prescription from a registered medical practitioner.”
Apart from branded drugs, portal will offer generic alternatives for every medicine ordered on the website. The Indian pharmacy market is estimated at Rs 83,000 crores with drug consumed for chronic aliment such as diabetics, blood pressure, hypertension, etc. accounting for over 40 per cent of the share.
In addition to the prescription drug catalogue, Netmeds offers eight categories of over the counter (OTC) remedies for pain, category for diabetic support like monitors and test strips, personal care section and others. In the non-prescription category, there are currently a total of 3,000 SKU’s including many of India’s top brands like Loreal, Fogg and Axe. The current, and ever-expanding catalogue of prescription tablets, capsules, ointments and compounds boasts 25000 SKU’s, including both brands and generics. Products are sourced from more than 185 Indian manufacturers, including a home page menu of the top 25, such as Sun, Ranbaxy, Cipla and Dr Reddy.
Pradeep Dadha, Promoter and the MAPE Advisory Group have together chipped in Rs 60 crores in NetMeds Marketplace in the initial round of funding.