GOING ‘GENERIC’ IN MEDICARE

The tilt towards use of generic medicines is a revolutionary step taken by modern India that can help people save the burden of treatment as they cost less than branded medicines. It has received a new impetus with Prime Minister Narendra Modi himself advocating the usage of these medicines. Taking this as a sign of how medical treatment will evolve in the future, Surat-based Zota Healthcare has initiated a commendable measure in this sector. The company is now committed to giving a boost to the generic medicine market while it already has a huge network of over 1,200 distributors in India with exports to 18 countries.

The company has spent its time and money in creating awareness of generic medicines as the consumers are initially quite skeptical about the quality of generic medicines, the reason being the extremely low costs. Ketan Zota, Managing Director, Zota Healthcare, says, “Generic medicines contain the same ingredients as used in the branded medicines with comparable strength and similar effectiveness to treat the concerned disease.” There are discounts ranging from 30% to 90% on these medicines.

RECESSION-PROOF INVESTMENT

The healthcare sector is recession-proof owing to countrythe fact that its products and services can never go out of demand. Even during economic downturns, people still require medical attention that produces a consistent flow of such products and services. This type of pattern makes healthcare companies less sensitive to business cycle fluctuations.

FRANCHISE PARTNERS

The company aims to open more than 3000 generic drug stores by 2020. “We are looking for franchise partners from the existing pharmaceutical field,” Zota says. The company plans to develop its franchise network as a chain of stores and integrate modernity, quality, competence and social welfare in the medical world.

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