“21-Year-Old Entrepreneur Builds a Rs 500 Crore Company, startup Offering Medicines at 90% Discount”
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Arjun Deshpande, a young entrepreneur, made waves in the pharmaceutical industry by establishing a company that provides medicines at significantly lower prices compared to the market. At the age of 16, Deshpande founded Generic Aadhaar, and now, at 21, he serves as the CEO of the Mumbai-based startup. Through its chain of franchisees, Generic Aadhaar offers generic medicines at discounts ranging from 80% to 90%. The company has quickly grown to a valuation of Rs 500 crores and has gained the support of renowned industrialist Ratan Tata.
Startup generic adhaar
Generic Aadhaar revolutionized the pharmaceutical sector by eliminating intermediaries such as marketers, distributors, and stockists, thereby reducing costs substantially. For instance, the diabetes drug Glimipiride, typically priced at Rs 110 per strip, is available for a little over Rs 5 through Generic Aadhaar. Similarly, the anti-allergen Levocetrizine, usually sold for Rs 55, can be obtained for under Rs 6 per strip, as reported by CNBCTV18.
In its initial years, Generic Aadhaar experienced rapid expansion across cities, attracting attention with Deshpande’s viral TED talk, which eventually caught the interest of Ratan Tata. Impressed by the startup’s innovative model, Tata offered his investment in the venture. Since then, Ratan Tata has played a crucial role in helping Generic Aadhaar reach even the most remote areas of the country. Presently, the company has established 2,000 stores nationwide and employs nearly 10,000 individuals.
In April, Arjun Deshpande received recognition from President Droupadi Murmu for his dedication to providing affordable medicines to Indian citizens. President Murmu acknowledged that Generic Aadhaar’s work contributes to the growth of the economy and referred to Deshpande as the “wonder kid of pharma.”
Furthermore, Generic Aadhaar aims to expand its reach by increasing the number of stores to 3,000 and venturing into the veterinary space. Arjun Deshpande believes that offering affordable veterinary medicines would alleviate the financial burden on farmers. The company recently inaugurated its first veterinary store in Andhra Pradesh, marking its entry into this new sector.