Online Pharmacy Medlife Launches Private Label Generic Drugs

Bengaluru, 12 Feb 2018: Online pharmacy Medlife is launching its private label generic drugs 'Pure Generics'. The company is looking to launch about 30 generic drugs and 40 Over-The-Counter (OTC) products by the next financial year.

The Bengaluru-based health technology company expects a revenue of ₹ 100 crore from the private label offering. The company's first offering will be a Paracetamol 650 mg.

"The first product we are launching is paracetamol. It doesn't need a prescription. We will also be launching 4-5 other products in the gastrointestinal and diabetic range soon. Those will initially be sold through retail," said Tushar Kumar, CEO, Medlife. Kumar expects that a strip of paracetamol will cost around ₹ 13-14, after discounts.

Since its inception as an e-pharmacy company in 2014 by Tushar Kumar, son of Prabhat Narain Singh, one of the founders of Alkem Laboratories, and Prashant Singh, Medlife has diversified into 24X7 e-consultation, laboratory services, app-based healthcare-related services, and now, private label generics.

Kumar and Singh also run Tulip Lab Pvt. Ltd, a company that manufactures herbal and allopathic medicine products. Tulip Lab was used to manufacture the private label medicines.

Medlife had also dedicated an internal investment of $30 million, last year, to scale up operations and is looking to put in an additional $15 million this year for the same.

The company also manufactures a herbals and food supplements brand called Medlife Essentials. "We already have five to six products under this brand.. we launched it four months back. We are already seeing a crore in sales revenue. They are picking up well," said Kumar.

The company is also looking to break even in its top four cities--Mumbai, Bengaluru, Delhi, and Chennai--by end of 2018. Medlife competes with e-pharmacies such as 1mg, Netmeds, and PharmEasy. ET Tech