The Indian healthcare and pharmaceuticals sector was one of the fastest growing in the world and was expected to grow by a whopping 754 percent between 2017 and 2060. Generic drugs have traditionally been India’s stronghold and contributed over 70 percent to the overall market revenue in 2018 alone.
Uwal Helathcare is a specialised pharmaceutical company. It offers affordable, completely safe pharmaceuticals and healthcare products to society. Their main goal is to improve the quality of pharmaceutical products by developing efficient methods of delivery, stability, purity, and safety.
More about Uwal Healthcare
India is one of the biggest manufacturers of generic medicines but still people aren't able to have access to medicines at affordable prices. The mission is to provide high-quality generic medicines at 15- 16% lower prices when compared to branded medicines. Uwal Healthcare was launched in 2019 and they are currently having a product range of over 150 products including tablets, Capsules, Ointments and cough syrups catering to all family needs from young to old.
Ujjwal Bansal states “ The buying decision of the patients has some influence from the doctor's behalf. Customers prefer buying medicines as per the Doctor’s prescription and Big Pharma ethical brands take advantage of it by giving commissions to the Doctors to prescribe certain products. This commission usually ranges between 30% - 50% of the MRP of the product, just to provide that medicine prescription. This is only one side of the cost. Advertisement cost, shareholder expectations and profit margins are high are other factors that affect the pricing of the product. This tends to put the burden on the end consumers and ultimately generates problems for the pharmacist as it reduces the margin of the pharmacist and the customer wants to buy products at generic medicine prices”
Uwal Healthcare came with an amazing motto to help the struggling pharmacist to earn his living and boost the pharmacist's growth simultaneously. Uwal Healthcare provides solutions to the pharmacist, as the pharmacist can then alternate the product as per his requirement. It is a win-win situation as the customer is getting the same composition branded product at a higher price point with the same quality. Thus, the pharmacist is able to earn his livelihood.
USP of Uwal Healthcare
Uwal Healthcare has a wide range of products catering to the entire family and is known to have trustworthy high quality products after manufacturing by the GMP facility. After this the Product testing is done by a third party’s lab.
Lives touched with Uwal Healthcare
Above 1 million lives were touched by Uwal Healthcare
Uwal Healthcare is funded or bootstrapped?
Uwal Healthcare is Bootstrapped but has also Received dept funding from the banks.
Revenues for Uwal Healthcare
Uwal Healthcare presently has generated 45 million. They plan to close it by an additional 15 million by the end of 2022.
Goals and future expansion plans
The main motive is to provide healthcare products across pan India. Uwal Healthcare is planning to launch 100 products by the end of 2022.
Impact of Covid 19 on the pharmaceutical industry
Two industries that benefited during the pandemic were the food and pharmaceutical industries. Ujjwal Bansal states “Most of the losses happened to the pharmacist and pharmaceutical sector. In the first phase of Covid 19, the focus was on sanitizers and antiseptic products. In the second wave, most of the focus is on the high antibiotic products like vaccines. Chemists kept hoarding products in their shops without having estimates of their sale proposition. Demand for products during the pandemic has shifted. Companies have struggled to estimate the exact demand and thus most companies are selling medicines close to their expiry. Due to surplus stock, they were unable to sell all their products during the pandemic due to lack of information.”
Globally, India ranks 3rd in terms of pharmaceutical production by volume and 14th by value. Indian pharmaceutical sector supplies over 50% of the global demand for various vaccines yet several people aren't able to afford medicines. Uwal Healthcare can definitely revolutionize the medical field by supporting pharmacists' and patients' well-being altogether.
(Edited by Elvis Almeida)