MedleyMed is present across the various pharma verticals both in the B2B and B2C space. Isn't there a conflict of interest? 

There is none or very little conflict of interest as the target customers for B2B and B2C space are entirely different for most of the verticals.

For few verticals like Virtual Clinic and Pharmacy, we are reaching out to end customers via our B2B partners. So, our B2B partners will find it practical to collaborate and promote MedleyMed services. By targeting both the segments, we are catering to the entire value chain.

Pharma companies incentivise their channel partners in a competitive marketplace as they deal directly with them. Is this a challenge for your business model? 

This is good for us as we are working in sync with various channel partners. If channel partners are incentivised by pharma companies, the benefit flows down to us as well.

Channel partners consider MedleyMed as a channel to increase their sales and not as competitors. We help them save in terms of processing and logistics cost across the entire distribution chain.

Has the number of retailers on your platform increased significantly? In which all markets are you present in India?

We have seen significant increase in number of retailers on MedleyMed platform. This is because retailers find value and convenience by using MedleyMed. Retailers no longer have to order products from multiple distributors as MedleyMed provides a very intuitive and easy to use platform to place their daily pharmaceutical orders. We are present in Hyderabad, Jaipur and Gurgaon as of now.

How has your expansion in the US market panned out so far?

MedleyMed has identified a few niche market segments in the US market and is going through the beta test stage to validate the business model. Once we successfully complete the beta projects, will be expanding in the US and other international markets. We are confident that our plans will go as per schedule, and we will have a strong international presence in the next few years.

Do you have any plans to go the franchisee route for expanding your presence in India?

We already have gone the franchise route for pharmacy expansion in Hyderabad. We have significant number of franchise stores operating and finding value by partnering with MedleyMed.

A retailer can partner with MedleyMed to open a franchise. We have a retailer focussed franchise program which makes the stores operationally efficient and technologically superior to any other pharmacies India. On the top of that, they get good margins and support.

Any financial outlay and is the business profitable? 

The MedleyMed business is not yet profitable, as we are in the early stage of building up the brand and operations. We are investing into building up an operation that we expect to turn profitable in next 2 years.

Covid-19 pandemic has forced retailers and distributors to digitise in order to stay competitive? What has been the experience with MedleyMed?

Covid-19 pandemic has brought in drastic changes in a very short span of time. Retailers and distributors have now started to adopt technology at an unprecedented rate as they see it as way forward. This has obviously benefitted companies with already strong technology like MedleyMed. We have seen the shift and now retailers are proactively downloading and placing orders through our Mobile Application.

Distributors also are now digitally integrated with MedleyMed platform which has resulted in a frictionless supply chain to retailers. This has reduced processing and operating time and cost for both distributors and MedleyMed - and enable just in time deliveries.

The government is encouraging doctors to prescribe more generic medicines so as to make drugs affordable for the common man? What's the demand from stockists and medical stores?

We feel that end customers still prefer branded drugs over generics. They do not want to compromise when it comes to medicine and want the best of medicine. Generics, at best complement the current market. 

Although, we also supply generics, we do not see much demand for generics from medical stores as compared to standard drugs. The market is still at a very early stage to make a move towards generics. 

Any plans for an IPO in the near future?

No, we have no plans for an IPO in the near future.