Expansion

Trust Chemicals to Expand Network

Bangaluru-based Trust Chemists & Druggists Ltd, which at present has 65 pharma retail outlets in Karnataka and 14 outlets in Tamil Nadu, is all set to expand its retail pharmacy business.

Trust Chemists has grown meticulously over last seven years, with 25 per cent of the outlets open round the clock. Says Hemanth Bothra, Trust Chemists and Druggists, "As a regional player in the south, we have decided to keep our foothold in Karnataka and Tamil Nadu as we feel that we need to do a lot in these two states before going to other states. We will expand according to the needs and requirements and not merely to increase our business volumes. Today we have a credible name because of our unique services and good retail medical practices."

"Trust is facing stiff competition various organised chains and unorganised outlets who are competing based on discounts and generic sales. The competition is getting more and more complicated by way of substitution by various various organised chains and unorganised outlets and the ignorant customer does not get a bill for the purchases. Entry of corporate houses and hospitals in retail pharmacy is bound to improve the quality of services to consumers. This should motivate the existing players to consolidate and prepare themselves to remain as active players and emerge as a competent professional pharmacy which would benefit the customer," said he.

The number of present pharmacies in the country is estimated over 10 lakh. The industry is growing at 41 per cent per annum and expected to reach Rs 432 billion by 2011. Growth in this sector is being propelled by increase in healthcare spending, growth in pharma sector and organised pharma retail, changing disease profile of India, consumer attitudes, attractive margins and growth in OTC segment.

EH News Bureau