A RIS­ING TIDE ..

Business Sphere - - COVER STORY - By Deepak Khattar, Chief of News Bureau and also of Manoshi Sinha

‘Right to good health is as prin­ci­ple a right for any ci­ti­zen as are the rights we be­stowed upon, vide the con­sti­tu­tion of In­dia.’ Is the un­der­ly­ing be­lief on which Arushi Jain, the Project Lead for Stay happi phar­macy, has built the re­tail phar­macy chain- Stay­happi phar­macy. So­ci­ety , she feels, is ex­tended fam­ily and that it’s her per­sonal re­spon­si­bil­ity to make an im­pact to­wards it’s well be­ing. The so­cial en­tre­pre­neur doesn’t tire eas­ily when she talks about how health and hap­pi­ness are the true pa­ram­e­ters of the qual­ity of life in any coun­try. She feels that profit is more a state of mind than the num­bers. What is marked as para­mount is the value that a ven­ture brings to the peo­ple in and ben­e­fit­ting from it and not the bot­tom line of the bal­ance sheet. The per­ti­nence to the in­tent along with ven­ture sus­tain­abil­ity are lauded as much big­ger medal­lions.

Stay­happi is the ab­so­lute solution to the dis­heart­en­ing gap between the pur­chas­ing power of the ci­ti­zen and the price of medicines in the coun­try, which has widened through the years. The ob­jec­tive of this model is to make world class qual­ity medicines avail­able across all ther­a­peu­tic seg­ments at prices that are 30%90% less than the cur­rent price of the same medicine in In­dia. To cite an ex­am­ple- “A di­a­betic pa­tient who con­sumes Glime pride 2mg ev­ery­day will save around 90% on his monthly med­i­cal ex­pen­di­ture. Our MRP is Rs.216/- for a sup­ply of one year against the av­er­age MRP of Rs.2190/- for a year for brands in the mar­ket.” The en­tire en­ergy of this project is di­rected to­wards serv­ing the ci­ti­zen sen­sur­ing that they get good health­care at rea­son­able prices with the min­i­mum that’s re­quired for sus­te­nance, kept for the com­pany. It wouldn’t be in­cor­rect to say that there isn’t an­other cor­po­rate ven­ture in the space which has quan­tifi­able ben­e­fits to the buyer, leave alone of the ex­tent of upto 90%. The ide­ol­ogy stands very clear at phi­lan­thropy first. “For a so­cial cause to be sus­tain­able and cause a po­ten­tially trans­for­ma­tive so­ci­etal im­pact, the busi­ness dy­nam­ics have to be re­spected.” – Arushi Jain The lead­ing lady is a peo­ple’s per­son and has a back­ground in char­tered ac­coun­tancy and com­pany sec­re­tary-ship. She is a strate­gic thinker and has deep un­der­stand­ing of op­er­a­tions. She has set sail on a mis­sion to rev­o­lu­tionise the man­ner and func­tion­ing of the In­dian phar­ma­ceu­ti­cal mar­ket aegis with this project. In ef­fect, Stay Happi is a con­duit to ful­fill the vi­sion of our prime min­is­ter and to com­ply with the uni­form code of phar­ma­ceu­ti­cal mar­ket­ing prac­tices (UCPMP) by mak­ing generic med­i­ca­tion avail­able to the com­mon man. Stay Happi phar­ma­cies will sell generic medicines which are ex­actly the same in ef­fi­cacy, safety, pu­rity, dosage form, strength, route of ad­min­is­tra­tion, qual­ity, and per­for­mance char­ac­ter­is­tics as that from any of the sim­i­lar top brands avail­able in the coun­try. It is now widely un­der­stood that generic medicines and branded medicines are just the same. Branded medicines are nec­es­sar­ily generic medicines marked with a spe­cific name for a brand and com­pany. Var­i­ous de­vel­oped coun­tries in­clud­ing USA, UK, Ja­pan re­tail medicines to the con­sumers only in generic name. It is com­mon knowl­edge that the big phar­ma­ceu­ti­cal com­pa­nies, large re­tail houses, hos­pi­tals chains etc­sell branded medicines with high MRPs and high prof­its. Also, few small-scale man­u­fac­tur­ers pump in­fe­rior qual­ity medicines some­times in con­nivance with lo­cal chemists, doc­tors at low prices to in­crease the profit mar­gins for the mar­ket­ing com­pa­nies that buy from them. The lobby man­ages to keep the buyer con­fused. The fact that the com­mon man doesn’t un­der­stand the nu­ances of the in­dus­try and has no choice other than con­sum­ing the prod­uct from

Miss Arushi Jain, Project Lead

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