India's extensive chronic patient base drives a vibrant e-pharmacy market, where affordability is a pressing issue. Truemeds differentiates itself by helping patients transition to lower-cost generic drugs instead of competing with steep discounts from established players. The startup recently secured $85 million in funding, raising its valuation to over $400 million. Founded in 2019, Truemeds has strategically focused on generics, addressing the gap in consumer education about affordable medication options. By emphasizing the cost benefits of generics, Truemeds aims to assist patients in managing their health care expenses more effectively.
"There is no way to educate the user that you can have more affordable options if you can't afford these drugs," said Truemeds co-founder Akshat Nayyar. "That is where we felt that nobody in the value chain was working towards that, and we can bridge that gap."
Truemeds recommends generic alternatives to consumers for the branded medicines they need, helping consumers save money by utilizing the cost efficiencies in the development of generic drugs.
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