The Hyderabad-based Optiva Healthcare Solutions promoted by NRI doctors from the US is in the process of setting up a large pharmacy chain in the country, in the name of 'Aushadhi' stores. The company in its first phase is setting up pharmacy stores in Hyderabad and then it will spread its presence across major cities of Andhra Pradesh. Later, it will target major cities in the country.
"The company intends to provide safe and affordable medicines to consumers in India. In this direction, it has already established about 50 pharmacy stores in Hyderabad and is planning to set up another 50 stores in the State making it 100," sources said.
Aushadhi stores claim to offer aesthetically designed ambience and medicines at a price lower than the market. Aushadhi's air-conditioned stores ensure that all the medicines are stored at ideal temperature to retain their efficacy. It claims to offer five per cent discount on MRP on all medicines sold at the stores.
Large healthcare companies have already forayed into organized retail pharmacy segment. As per an E&Y study, growth in organised retail is bound to have its effect on pharmaceutical retail too, though retail pharmacy chains in India are still in a state of infancy and contribute very little to retail pharmaceutical sales. There are only a few big players in pharmacy chain at present like Medicine Shoppe, Apollo Pharmacy, Dial for Health, 98.4, Health & Glow and Guardian Life Care. However, more companies are likely to enter the market seeing huge potential.