The Gurgaon based leading retail pharmacy chain Guardian Lifecare Pvt Ltd is expanding its domestic operations. The company has plans to invest Rs 125 crore for setting up as many as 210 retail pharmacy shops in some northern states by the end of March 2009. The company will be raising required funds from private equity firms.
The Guardian is a four year old chain of health and beauty stores. It has worked towards reassuring reliability in healthcare retail in India. Currently, it has over 100 retail pharmacy stores operating in Gurgaon, Delhi, Meerut, Noida, Jaipur Faridabad and Ghaziabad.
The Indian retail pharmacy market is growing at a rate of 10-12 per cent annually. By the end of 2010, the current size of the market is expected to touch Rs 40,000 crore in India
Speaking to Pharmabiz, Ashutosh Garg, chairman and managing director, Guardian Lifecare, said, "We are on an expansion mode with a proposed investment plan of Rs 125 crore. We are adding up 210 pharmacy stores across Northern region. Every week we are adding up two new stores and are in talks with several private equity firms and very soon we will be finalising funding pattern. We are in the process to set up more retail pharmacy stores in Haryana, Rajashtan, UP, Delhi, Panjab and Ludhiyana by the next financial year. At present we have a staff strength of 600 and it will be doubled in the next one year".
With the growth rate of 150 per cent, we are expecting a turnover of Rs 175 crore in the current fiscal. During 2006-07 it has achieved Rs 60 crore as against Rs 25 crore in 2005-06.
Talking about product authenticity, he said, "We directly deal with manufacturers and their stockists. In addition, we select a few medicines at random from our stores and send these for checking to Government approved laboratories".
The company is also an exclusive partner of the General Nutrition Centre (GNC) in India. GNC is the nutritional supplements company from USA.