The idea of putting up a Generika Drugstore came about when Mr Teodoro Ferrer, then a newly retired Ayala executive and his business partner Mr Julien Belo saw the plight of many Filipinos when it comes to healthcare specifically the intake of medicine and the completion of treatments that involves antibiotics. They noted that due to the high cost of medicines, people tend to take shortcuts in their medication without realizing the health risks it involves.
This is what prompted them to put up a business venture that aims to offer quality affordable generic medicines that will help each Filipino live a healthy life. This partnership gave birth to Generika Drugstore - the pioneer champion of generic medicines in the pharma retail space.
Generika Drugstore came from modest beginnings; Generika’s first office was a small 2-bedroom apartment in Goodwill Village, Parañaque City. It was a huge risk for both partners since none of them had a background in the healthcare industry, let alone in running a retail business. Gradually, the company grew with the help of its stakeholders such as pharmacists and key employees.
In 2004, Generika Drugstore opened its doors and started selling medicines to the public through its first outlet located in Montillano, Muntinlupa. Since then, more customers have patronized Generika Drugstore and the company continuously expanded by opening more stores.
With 16 company owned stores in 2008, Generika Drugstore took the next big step and made its business model available for franchising.
In 2011, Generika Drugstore has set its footprints in Visayas and Mindanao. Generika continued to expand by putting up more branches not only in key cities and municipalities, but also in small towns and barangays. Franchising became the main engine of growth for Generika in the years ahead as the company strives to serve more communities throughout the country.
True to its pioneering nature, Generika Drugstore launched in 2014, MEDPadala- an electronic gift certificate used to purchase medicines. This is in response to the growing need of OFWs abroad who sends money to the Philippines for their families health needs. MEDPadala ensures that the money sent will be used for medicines only instead of other unnecessary items.
Another major milestone took place in 2015 when Generika Drugstore became a proud member of AC Health, a subsidiary of Ayala Corporation. Through AC Health, Ayala acquired 50% stake of Generika to help address the gap in affordable retail healthcare. With Ayala’s business expertise, Generika Drugstore is poised to become bigger in the pharmaceutical retail space as it continues to be at the forefront in providing quality affordable healthcare to Filipino families.