Hyderabad : MedPlus Health Services, which runs a chain of pharmacies, said it will be selling 500 off-patent therapeutic and chronic medicines under its own brand with a discount of 50-80 per cent.
Announcing this at a press conference on Wednesday, G Madhukar Reddy, managing director and chief executive officer, MedPlus, said the company tied up with multiple reputed pharmaceutical manufacturing companies to produce high quality off-patent medicines that enables the firm to pass on the benefit to the consumer.
“MedPlus will initially offer discounts on over 500 therapeutic and chronic medicines and will eventually extend discounts on more than 800 products in the next three months,” Reddy said.
These medicines will include over-the-counter (OTC) and prescription drugs used in treating various diseases such as hypertension, diabetes and kidney ailments, he said.
The 500 products currently being offered cover about 53 per cent of the therapeutic segments and the products will be sold under the MedPlus brand, he added.
Currently, it operates about 3,800 stores and has plans to add another 800 new pharmacies during 2023-24. “Our size allows us to eliminate marketing, distribution and other retail costs and will pass on the benefits to customers,” he said.