Counterfeit medicine problem and MedznMore
According to various reports, during late January 2012, a fake medicine crisis at the Punjab Institute of Cardiology (PIC) hospital in the Lahore region of Punjab, Pakistan, claimed the lives of over 100 heart patients. The incident involved patients who had been receiving treatment at the hospital and had been prescribed with counterfeit antihypertensive medicines. The fake medicines triggered a serious adverse reaction by depositing itself in the bone marrow and ending the body’s resistance. The generation of white blood cells stopped in the body. Among the symptoms of the disease were a severe chest infection, change in skin colour/pigmentation, low platelet count and blood vomiting. With such counterfeit drugs problems, a Karachi-based healthtech startup MedznMore came through to solve these dangerous problems.
It is a Karachi-based startup founded by Asad Khan and Saad Khawar. MedznMore is an online pharmacy, selling medicines with four-hour delivery in Karachi. The ‘more’ in its name refers to wellness products and medical devices which are also sold on its website. They have a home-delivering service that delivers the needed medicines at your doorstep without any hassle.
CEO Asad Khan comes with over ten years of experience in healthcare companies in the United States and Europe. Before starting MedznMore, he served Careem as a General Manager for almost three years. Saad Khawar, the co-founder and Head of Product & Strategy was previously with Pakistani online pharmacy startup Dawaai serving them as Head of Product. So they both came with an experience.
They launched this platform with an aim to tackle the problems regarding pharm retail in Pakistan with fastest medicines selling, identifying and creating awareness about counterfeit drugs.
MedznMore raising the largest seed funding
MedznMore has raised around $2.6 million in seed funding. This seed funding is one of the largest fundings for any startup in Pakistan and it will help the founders in realizing their vision of delivering medicine right at customer’s homes.
While sharing about the funding the founders stated,
“At MedznMore, we want to solve the chronic problem of counterfeit drugs in Pakistan. In order to ensure 100% authenticity, all our medicines are procured either directly from the manufacturer or authorized distributors. In addition, we want to make the process more convenient than your local pharmacy, ensuring order delivery within 4 hours at the most affordable prices.”
The company’s main goal currently is to maintain operations for medicine and healthcare products delivery for customers directly at their doorstep.
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