Generika Drugstore is targeting the opening of 152 new stores for 2016. The company’s president and co-founder Teodoro L. Ferrer claims that they are back on track to meet their five-year plan of having 1,000 stores by the end of 2020. At present, Generika has 600 hundred stores.
Generika Drugstore started back in 2003, and was among the first to engage in retail distribution of generic but affordable medicine. In July 2015, Ayala Healthcare Holdings, Inc., a subsidiary of Ayala Corp. acquired the 50% stake in Generika owned by Julien Bello’s family. The estimated capital expenditure for the year is around P50 million, at least.
