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Kolkata-based e-pharmacy SastaSundar, which recently secured funding from Japanese company Rohto Pharma, is firming up a national expansion plan.
The expansion is likely to play out over the next 2-3 years, depending on the response the company gets after launching its offerings in Delhi. So far, SastaSundar operates only in West Bengal.
“For a national expansion, we will require close to $100 million,” BL Mittal, founder and Executive Chairman, SastaSundar, said here on Thursday.
Listed on the BSE and the NSE, Sastasundar Ventures owns the portal SastaSundar.com through its step-down subsidiary SastaSundar Healthbuddy, and also runs Healthbuddy pharmacy stores. Rohto had picked up a 13 per cent stake in SastaSundar Healthbuddy through a $5-million investment.
The Japanese firm might put in additional funding if required.
According to Mittal, the company will use the $5 million from Rohto to further expand its presence in Bengal, set up pathology labs, venture into telemedicine and enter new geographies.
The pharmacy chain plans to set up 250 stores (up from 178) in its home State, and 50 in Delhi.
This apart, Rohto products, especially its over-the-counter offerings, will also be listed on SastaSundar’s e-commerce platform.
“Other products will be introduced accordingly. All products will be made in India, either through partnerships or through third-party manufacturers,” said Lekh Juneja, Executive Vice-President, Rohto.
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