A hundred-year-old pharma distribution company in Chennai has decided to enter the ecommerce space. Dadha & Company, a name that is said to be synonymous with pharmacy distribution throughout the south of India will now reduce its destination barriers by capitalizing on the internet's vast potential to reach out to a larger pool of people.
Last week, Bengaluru-based investment bank MAPE Advisory Group, which advises on private equity funds and M&A deals, announced its plans to invest in a yet-to-be launched online pharma chain Net-Meds Marketplace Private Ltd. MAPE Advisory along with Dadha Pharma's founder Pradeep Dadha will initially invest Rs 30 crore inNet-Meds, with a further commitment to increase it to Rs 60 crore.
Headquartered in Chennai, Dadha Pharma Private Limited was founded in 1914 by Mohanchand Dadha's forefathers. Since its inception, the company's profile speaks as a trusted source for pharmaceutical supplies. The company's Senior Director, S Mohanchand Dadha is a third generation entrepreneur with vast industry and financial experience and is a long-standing member of the Board of Directors of Sun Pharmaceutical Industries Ltd.
The online pharmacy Netmeds.com, is owned and operated by Netmeds Marketplace, Ltd. a licensed pharmacy. Netmeds is an ecommerce portal where consumers with valid prescriptions can upload their prescriptions, via scan or pic, by email or Whatsapp, and once the prescription is validated by Netmeds pharmacists, consumers can shop for their medicine, both branded and low-cost generic variants, for all chronic conditions like diabetes, high cholesterol, blood pressure, and cardiovascular diseases. The company has collaborated with Indian Post to ship the medicines to the consumers within 2 to 4 days across India.
Netmeds plans to launch its website later this month and is putting final touches to its marketing campaign, which it plans to launch simultaneously. It will sell prescription and over-the-counter (OTC) drugs, supplying over 15,000 stock keeping units (SKUs) across India from its warehouse in Chennai.