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A young entrepreneur's journey in pharma field
Divya Shankar Soreddy
Funding also plays a major role. Everyone wants medicine but no one wants chemical factories
Excerpts from interview.
What helped you more education or experience?
More than education entrepreneurship journey helped me. Now after manufacturing of tablets, capsule and syrups we own a unit at Chaitanyapuri, LB Nagar formulation unit of tablet, capsule and syrup of drug. My family always wanted me to work; they wanted me to have the business experience than education. Because of financial status they always needed the support. I was a bright student therefore I could manage both work and education. My exam results would reach a mark which would complete my certification, because my education should add to my profile.
I am from Gokaraju College and there my professors were also very supportive. The founder of the college is also an industrialist, they encouraged me a lot. They introduced me as an entrepreneur to Drug Directors who visited my college. So this helped me both in my work and education. Without them it was not possible.
What are the struggles and challenges you have faced?
In this field you find a lot of fluctuations in the market. A fluctuation from VAT to GST has been a great thing for us. Funding also plays a major role. Everyone wants medicine but no one wants chemical factories. When we say women entrepreneurs, fund raising is a very big task because people won't trust you easily. People think it doesn't long last. Because when manufacturing units are there you need lots of funds. Through business we got our funding and we turned our ability into amount.
If a person wants to start a retail store in the pharmaceutical field, what would you suggest?
First thing you need to keep in mind is that one has to have a certified pharmacy qualification. My father is from that background so he had that strength. This is not a field where everybody without knowledge can join. In this filed you definitely need knowledge about the drugs.
To start a retail store in pharma field you need to register and for that there is process. The drug inspector will visit and check the area where you want to start this retail store. After the formalities are done they will get the signature, then you can start a normal retail store. It will have a renewal of every five years. I feel that pharmacy is a field where no one can get back; if they work hard they will definitely see the difference in the margins.
