CEBU, Philippines — Generika Drugstore, a member of Ayala Healthcare Holdings Inc. (AC Health), is the first recipient of the Inclusive Business Award in the ASEAN Business Awards (ABA) held at the Solaire Resort and Casino on September 6. A special award added to the ABA this year, it is given to companies who have shown significant societal impact especially to the poor andunderserved communities. The ABA was launched by the ASEAN Business Advisory Council in 2007 to recognize companies that contributed to the growth and prosperity of the ASEAN Economy.
This year, more than 200 businesses were vetted by the ABA Official Judges Committee. For the
Inclusive Business category, 29 entries were reviewed. Generika Drugstore bested other enterprises such as Batik Boutique (Malaysia), Coffee for Peace (Philippines), Siam Organic (Thailand), KP Company Limited (Laos), and Olam International (Singapore). Through this accolade, ABA recognizes Generika Drugstore’s pioneering leadership in the retail of generic medicines.
Public service and creating shared value is at the heart of Generika Drugstore. An inclusive business from the very beginning, it has strived to bridge the healthcare gap in the country by providing safe, affordable, and quality generics during a time when medicine prices were high and generic alternatives were not easily accessible. Now, through its partnership with AC Health, Generika Drugstore has over 700 outlets nationwide and growing, offering not only medicines, but also other healthcare services, such as the Gamot (medicine) Guide, MedPadala (e-gift certificate), and mobile laboratory and free medical consultations in store.
Generika Drugstore founder and President Mr. Ted Ferrer, says, “Generika Drugstore has always focused on and prioritized the health needs of the poorer sector of the country since it opened its first store 14 years ago. We have positively disrupted and changed the landscape of the pharma retail industry. Slowly, communities are persuaded to try generic equivalents, and found them to be as effective with up to up to 85 percent savings compared to its branded counterpart. Now, even long-established pharma retail chains who used to offer only branded medicines are now offering generic medicines as well.”
For their part, AC Health CEO and managing director of Ayala Corporation Paolo F. Borromeo says, “We have always believed in Generika Drugstore’s vision of providing access to quality affordable generic medicines, and this resonates deeply with Ayala’s commitment to improving lives. With 1,000 stores by 2020, Generika Drugstore will be at the forefront of bringing quality healthcare to more Filipino families from all walks of life.”
To learn more about Generika Drugstore, one may visit http://www.generika.com.ph/; or subscribe and like the Facebook page at https://www.facebook.com/Generika.com.ph.