labels: pharmaceuticals
RDCA to form retail co-operative society in Mumbainews
01 January 2000

The Retail Chemists and Druggists Association in Mumbai comprises more than 4,000 retail chemists as its members. In view of the possible competition from chain of retail stores, RDCA members are forming a co-operative society. Spearheading this operation is Kishore Shah, president of RDCA.

According to the blueprint prepared by the RDCA, chemists in each region of Mumbai will form a localised co-operative body. These bodies will be linked to an apex co-operative society, which will centralise purchases on a weekly basis. The co-operative is to to be registered sometime by January 2000, according to Shah.

The co-operative society will also start manufacturing of certain OTC and other fast moving formulations, says Mr Shah. "We are planning to raise an initial capital of Rs 100 crore for manufacture of popular OTC drugs and certain fast moving scheduled formulations. About Rs 7.5 crore will be raised from members by floating shares of Rs 1,000 each, while the rest of the amount will be raised through bank loans," Mr Shah adds.

 

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RDCA to form retail co-operative society in Mumbai