How Amal Thomas is building a multi-Million dollar start-up ecosystem from scratch preventing counterfeit medicines

March 12 18:14 2021

At the age of 21, he is the Founder and CEO of multiple startups in various industries which include Marketing, AI, custom designs, and pharmaceuticals. Being a medical student he is trying hard to maintain his passion and career at the same time.

This 21-year-old has already created his name and mark in the industry with one of his start-ups which helps in eradicating counterfeit medicines which have already created mass attention. He develops a system which can clean up, and improve the standards of medicine production, this application stores data, and transfer to the pharmaceutical sectors, and then track the supply chain of medicine. This process can prevent counterfeit drugs & improve the standards of medicine delivery and online consultations. In developing countries production of counterfeit drugs comprises between 10-30% of production which makes it a billion-dollar business. Every year around 1 million people die and some of them got severely ill due to the consequences of those harmful fatal drugs.

It will be saving a lot of overheads, A physical store end up increasing overheads and need to sell medicines at MRP or just at a 5% discount on MRP. However, by setting up an online portal or Tele Sales Setup (One time cost) employ staff and now procure from the same manufacturer by bypassing some levels of the supply chain but accommodate all the population through just one shop at the cost of 5 physical stores. You will end up saving a lot of overheads. Sometimes profit margins in the medicine industry range from 5% — 50% and in some cases, it is even less or equal to 100%

On the other hand investments in the fast and safe supply chain in hubs and franchises for faster delivery and which can even create employment in the delivery section too. This startup procures from the same manufacturers and sells to the customers at discounted rates thereby sharing with them some tiny portion of its savings in overheads. Socially It allows the most authentic data of diseases/infections spread in different locations, its timings, and medical treatment is given to people in those localities. This is not where it ends for him but you will be here a lot about this young entrepreneur in the coming years.

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