The AIOCD Pharmasofttech AWACS, a joint venture between All Indian Origin Chemists and Distributors Ltd (AIOCD LTD) and Trikal Medi Infotech for creating electronic infrastructure for the pharma industry and trade, is planning to launch a mobile drug database, for the first time in India, to provide drug information to doctors and pharmacists all over the nation through cell phone.
Through this new service - to be launched on February 1, 2010 - the company will offer information on brand names and the related molecule for the doctors and pharmacists in their cell phone, through General Packet Radio Services (GPRS) or through Short Message Services (SMS) on paid subscription basis.
The company has comprehended database of 1.70 lakh formulation packs in the country out of the two lakh total packs, which is the largest database available in India on the segment, said Ameesh Masurekar, director, AIOCD Pharmasofttech AWACS.
“The database with us is more comprehensive than the data offered by other companies. Through the service, the user can get the name of molecule known under a brand name and vice versa at the earliest,” said Masurekar.
The company has set a target to reach 7 lakh customers including the 5.50 lakh members of All India Organization of Chemists and Druggists (AIOCD), the trade body of AIOCD Ltd, and around 2 lakh physicians across the nation in next three to four years. The expected financial returns from the product will be in crore, he added refusing to divulge actual figures.
In mid-January 2010, the company has launched its first product for the year, a Stockist-Retailer Electronic Data Exchange (EDE) product, to fill the information gap between the wholesaler and retailer in sales data. The product, for which the brand name is still not finalised, is expected to increase the efficiency and accuracy of data exchanged between the wholesaler and retailer avoiding the inaccuracies occurred due to the different softwares used in both end.
The company at present has two products in its kitty – Electronic Secondary Data Service and the market surveillance product, PharmaTrac. In January 2010, the company also received its first external fund from the Mumbai Angels, country's one of the leading group of angel investors. The angel investor is expected to churn in nearly Rs 2 crore, which will be used by Pharma AWACS for its routine expenses, said Masurekar.