In a remarkable journey spanning two decades, Generika Drugstore has stood as a beacon of hope for countless Filipinos, offering quality and affordable generic medicines. Founded in 2003 by Teodoro Ferrer and his close associate, Julien Belo, this pioneering venture has significantly eased the burden of rising healthcare costs for the Filipino populace.
“Grateful,” is how Mr. Ferrer, Co-Founder and Chairman of the Board of Generika Drugstore, describes how he feels when asked, as the company he started celebrates its 20th founding anniversary this September. “This is a realization of a dream. I never really expected us to grow to where we are now since back then, we were just a start-up,” he added.
Mr. Ferrer fondly recalled the inception of Generika Drugstore, a venture borne out of a deep-seated vision to mitigate the financial strain caused by escalating medication prices. Just a year after its inception, the first Generika Drugstore outlet opened its doors in Montillano, Muntinlupa City, marking the inception of an era dedicated to advocating and championing generic medicines in the pharmaceutical retail space.
Fast-forward to the present day and Generika Drugstore has blossomed into a nationwide phenomenon with over 700 stores dotting the archipelago. The company has set its sights on an ambitious goal of reaching 1,000 stores by 2025, with crucial support from the Ayala Healthcare (AC Health) Group, which acquired a stake in the company back in 2015.
Atty. Yet Abarca, President and CEO of Generika Drugstore, affirmed that the founders’ vision remains at the core of the company’s mission. This vision continues to drive Generika Drugstore’s commitment to delivering “ginhawa” or relief by ensuring access to quality, affordable medicines, and essential healthcare products for its valued customers.
“Looking back, it has been twenty years of delivering the Ginhawang Generika promise to our customers and the communities we operate in. Through our portfolio of quality and affordable generic medicines, we have helped reduce their out-of-pocket spend for medicines. Our staple “Libreng Konsulta” program with partner doctors, along with our other plus services across our store network, has also helped empower communities to take better care of their health. We are grateful for the opportunity to be their healthcare partner over the years,” she said.
Looking towards the horizon, Mr. Ferrer expressed unwavering confidence in Generika Drugstore’s continued growth and its ability to create a positive impact, particularly with the steadfast support of AC Health.
AC Health President & CEO, Mr. Paolo Borromeo, also emphasized the critical role of integration in AC Health’s strategy, highlighting Generika Drugstore’s pivotal position in the group’s ecosystem. Borromeo stated, “Our dedication to promoting affordable and accessible generic medicines together with Generika remains a top priority. We believe that through our collective efforts, we can create a healthcare landscape where every Filipino has equitable access to the medicines and healthcare they need.”
Generika Drugstore is a proud part of Ayala Healthcare Holdings, Inc. (AC Health), a wholly-owned subsidiary of Ayala Corporation, which is committed to providing Filipinos access to affordable, quality healthcare. Since its establishment in 2003, Generika Drugstore has been a staunch advocate for affordable, quality generic medicines and has tirelessly expanded access by opening branches not only in major cities and municipalities but also in small towns and barangays.
As Generika Drugstore celebrates its 20th anniversary, it stands as a testament to the enduring power of vision, dedication, and unwavering commitment to delivering healthcare “ginhawa” to the people of the Philippines. With the support of AC Health and its expanding network, Generika Drugstore is poised to continue its mission of making quality healthcare accessible to all.