Financial Daily from THE HINDU group of publications
Thursday, May 01, 2003
Financial Daily from THE HINDU group of publications Thursday, May 01, 2003 |
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Marketing
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Retailing Medicine Shoppe plans to tap southern markets Our Bureau
HYDERABAD, April 30 MEDICINE Shoppe India, a wholly-owned subsidiary of the US-based $48-billion Cardinal Health Care Inc, has announced its plans to open 40-60 franchisee outlets in Andhra Pradesh and Karnataka with an eye on the huge pharmaceutical market in the South. The company, which claims to have the world's largest `family pharmacy' chain with 1,400 outlets in 12 countries and 40 in Western India, plans to tap the Southern market with riders such as free accident, fire and critical care insurance covers on a purchase of goods worth Rs 5,000 a year. "The company has tied up with Paramount Healthcare, which allows it to be the preferred pharmacy provider for the latter's customers," the Vice-President, Medicine Shoppe India, Mr Rajendra Pratap Gupta, said in a press release here on Wednesday. "After consolidating our position in the Western India, we would like to foray into the southern market. The four major States constitute the largest pharmaceutical market among all the zones in the country," he said.
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