DrugStoc

DrugStoc is a technology-enabled pharmaceutical procurement and distribution company addressing critical inefficiencies within Africa's healthcare supply chain. Founded in 2015 by Chibuzo Opara and Adham Yehia, the company emerged from their direct experiences with the continent's fragmented pharmaceutical distribution system. Opara, a medical doctor and health economist, has a background working with global institutions like the World Health Organization and the World Bank on healthcare financing and supply chain management. Yehia also has a medical background and experience managing hospitals and clinics. Their previous joint venture, a healthcare IT and management firm called Integra Health, highlighted the pervasive challenges of sourcing safe, quality medication, which directly inspired the creation of DrugStoc.

The company operates a cloud-based platform that connects pharmaceutical manufacturers directly with licensed healthcare providers, including hospitals, pharmacies, and clinics across Nigeria. This model tackles the proliferation of counterfeit and substandard drugs, opaque pricing, and unreliable access that plague open drug markets. DrugStoc's platform is an omnichannel solution, ensuring that healthcare providers can easily procure genuine medications. The business generates revenue by earning a commission on sales made through its platform. Since its launch, the company has demonstrated significant growth, reporting a 1,500% increase in monthly revenue over three years and serving thousands of healthcare facilities.

DrugStoc's product ecosystem is designed to be a comprehensive procurement partner. Key offerings include "DrugStoc Access," a web and mobile portal providing real-time entry to over 7,000 healthcare products, from specialty items to medical consumables. To address financial barriers, the company provides "DrugStoc Pay," an embedded financing and credit solution that allows clients to maintain inventory without collateral. Furthermore, its proprietary inventory management software, "Pilometer," helps facilities automate stock-taking and procurement. By ensuring an end-to-end traceable supply chain and investing in cold chain infrastructure, DrugStoc guarantees the quality of pharmaceuticals, including temperature-sensitive products. After being incubated at Stanford's Institute for Innovation in Developing Economies and securing a $4.4 million Series A funding round in 2021, DrugStoc is focused on expanding its physical and digital infrastructure to deepen its reach in Nigeria and extend its services to other African countries.

Keywords: pharmaceutical procurement, healthcare supply chain, e-health platform, anti-counterfeit drugs, medical distribution, drug sourcing, inventory financing, healthcare logistics, pharmacy management software, African health-tech, medical consumables, last-mile delivery, pharmaceutical e-commerce, supply chain financing, digital pharmacy, clinic supplies, hospital procurement, health economics, Nigerian startups, medical technology