The Tamil Nadu Chemists and Druggists Association (TNCDA) is entering into pharma retail trade by launching its chain store company, TNCDA Ltd (Tamil Nadu Chemists and Allied Distributors' Alliance Ltd) on May 24.
The formal launch of pharma chain stores under this company in Tamil Nadu will be held in Madurai on Sunday, May 24. The president of the All India Organisation of Chemists and Druggists (AIOCD), J S Shinde will inaugurate the function in the presence of more than four thousand members of TNCDA, who have become shareholders of TNCDA Ltd.
AIOCD Ltd, the national level company formed by AIOCD will supervise and guide its operations of this network in liaison with manufacturers, wholesalers, insurance companies and central and state governments, said M Arul Kumar, managing director of TNCDA Ltd.
To start with, the company will market 24 products of Lupin, and three products of Novartis in the whole of Tamil Nadu, as exclusive agent. All the products sold by TNCDA will be branded as 'Sangam' products. The company also expects to collect Rs 25 crore from its shareholders as venture capital.
"Our products will be known as Sangam products. In addition to the manufacturing company's name, address and logo, we will put our own logo and the brand name 'Sangam' in every strip of the products before getting in to the market. So the consumers can ask for Sangam products in all pharma stores. Companies formed like this by our other state associations will also follow this method, and at a national level, Sangam product will have a stamp of its own," Arul Kumar told Pharmabiz. He further said that more companies would be associating with these ventures soon.
The TNCDA leader said that there is 20 per cent growth in pharmaceutical trade in the country. The purchasing power of the people has grown and they have become health conscious. These factors largely help to increase the pharma business in the country. Apart from this, with the launch of the company, the association is making a platform for broadening the knowledge of trade also. The traders will also get trained how to face the new challenges of the industry.
In future, along with pharma trade, the TNCDA Ltd will get into other services like Clinical Labs, Testing Labs and Ambulance facilities. These services can be accessed by everyone at any time.