In 2012 around 102 People died in Cardiology Ward in a hospital in Lahore, just because of fake medicine. This incident triggered us to think for a solution to eradicate sale of fake medicine. Source: https://www.bbc.com/news/world-asia-16742832
Total Sale of Medicine in Pakistan is 343 Billion PKR, according to Pakistan Medical Association. Out of which 50% is fake. Source: https://scholar.google.com.pk/scholar?hl=en&as_sdt=0%2C5&q=counterfeit+medicine+pakistan&oq=counterfeit+medicine+pakista#d=gs_qabs&p=&u=%23p%3D_BcxOJJtTTEJ
What it does
Eradicate the fake medicines by the help of a verification system that will be used by the consumer
What It Does
Allows consumers to check if their purchase medicine is fake by simply entering a 14 digit hex-code that they can scratch from the medicine box.
How we built it
- We Directly buy medicines from the original manufacturers.
- We print 14 digit hex-code on it that is scratch able and maintain information to verified retailer we send it to.
- Consumers can buy from the retailers, scratch 14-digit hex-code and get the information that includes Retailer Name, Retailer Address, Medicine Name, Medicine Company, Mfg. Date, Exp. Date.
- If the ground facts match with the system details definitely the medicine is original.
- If the ground facts conflict with system details, fake sale has been made, the consumer can report that sale.
- We would inquire the verified retailer and blacklist if needed.
Sustainability and Business Idea
- Distribution Profit as in existing industry.
- Cost of adding hex code + 1% of the total cost of medicine + Existing cost = New Cost
Thing to Highlight
Verification through this system will help us gather data of various diseases in different localities. In collaboration with different health agencies and government we will carry out activities to minimize causes of those diseases.
Challenges we ran into
- How consumers will trust our medicines
- Getting pharmacy on board for the retailer
- New retailer registration.
Accomplishments that we're proud of
Simplicity of Idea, Development of Business Model, Sustainability, Benefit to Society at large
What we learned
How to develop a business plan and make it sustainable Every system has flaws and we have to improve it. How to think any startup from business point of view How to work in a team along people with diverse background.
What's next for Real Pharma
- Scalability : We will target pharmacies through connections and networks.
- Free data of diseases frequency provided to Health Organization and Governments.
- Introduce toll free text number to verify medicines to increase coverage.