Medlife plans to launch about 30 generic drugs and 40 OTC products by the next financial year and expects revenue of Rs 100 cr from the private label.

Medlife launches own line of generic drugs becomes first Indian online pharmacy to do soImage for representation
Atom Startups Tuesday, February 13, 2018 - 09:34

In a first for any online pharmacy, healthcare startup and omni-channel pharmacy Medlife.com, is set to launch its private label of generic drugs. The company claims that its launch of generic drugs is in keeping with the government’s recent efforts to encourage the use of affordable generic drugs, instead of expensive brand-named alternatives. 

Medlife plans to launch about 30 generic drugs and 40 OTC products by the next financial year. The Bengaluru-based health technology company expects a revenue of Rs 100 cr from the private label offering. 

Medlife claims that is will be the first Indian company to use DMF-grade material for its pure generic medicines, keeping the pricing economical.

A drug master file (DMF) is a confidential, detailed document submitted by Active Pharmaceutical Ingredient (API) manufacturers to the U.S. Food and Drug Administration (FDA). Currently, products available in the Indian market are non-DMF grade.

It further claims that its FDA-approved products, like Medlife paracetamol, provide greater assurance of quality and are held to high quality standards compared to products that are not approved by the FDA. 

“Being on the frontlines of the healthcare sector, pharmacy has the potential to be a real game-changer. Our vision is to develop a comprehensive and ethical healthcare ecosystem that makes healthcare affordable, accessible and responsive to the needs of all Indians. Promotion of generic drugs is a significant step in bringing down healthcare expenses and making medicines easily available to the common man,” Tushar Kumar, CEO, Medlife said.

With its launch of private label generics, Medlife aims to make quality medicines affordable for Indians. It will soon launch reasonably-priced, DMF-grade Paracetamol 650 mg that promises up to 92% drug release within just five minutes, to provide instant relief from fever and pain. The drugs will be manufactured in a WHO-GMP, PICS, HACCP, ISO 22000:2005 certified and approved plant.

Founded in 2014 as an e-pharmacy company, Medlife has diversified into 24X7 e-consultation, laboratory services, app-based healthcare-related services, and now, private label generics, to become an integrated healthcare service provider with a pan-India presence. It has a unique customer base of one million. With a planned internal investment of $30 million to scale up operations, the company expects to earn a revenue of Rs 900-1000 crore by financial year 2019.

According to a statement from the company, India is the largest provider of generic drugs globally, with the Indian generics accounting for 20% of global exports in terms of volume.

By 2020, the Indian pharmaceutical sector is expected to grow to US$ 55 billion, thereby emerging as the sixth largest pharmaceutical market globally.

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