Country of Operation
- United Laboratories, IncFor-profit
Target income level
- Bottom 20%
- Lower-middle income (20-40%)
- Middle-income (40-60%)
- Higher middle-income (60-80%)
- High-income (80-100%)
SummaryRiteMed is a subsidiary set up by Unilab in 2002 with the mission of marketing and distributing quality, generic medicines to the poor. The company sells generic products for 20% –75% less than their branded counterparts cost.
Key program components
Unilab set up RiteMed with the mission of marketing and distributing quality, generic medicines to the poor. The company sells generic products for 20% –75% less than their branded counterparts cost, meeting revenue targets of $20 million within five years—profitably. RiteMed is effective because of the following strategies: they work with local hospital in order to make drugs accessible; and they engage in medical association marketed directly to prescription filling pharmacist and increase health awareness to break the perception that generic prescriptions are ineffective. The company’s health education campaign helped RiteMed earn the public's trust of generic drugs and at the same time, empowered the public to have more options, including lower cost generics.
In business since 1945, United Laboratories, Inc., (Unilab) is the oldest pharmaceutical company in the Philippines and still one of the largest. UNILAB keeps refining its initiatives in lowering the prices of its medicine. In 2002, it launched a new division, RiteMed, which promises to deliver "right medicine, priced right."