Drug n Drop

Drug n Drop is a knowledge intensive anaytics start up designing a complete smart system to manage medicine and provide value across the pharmaceutical value chain.

The problem we are solving, derives from the worlds pharmaceutical industry, valued at 1.27 trillion dolars and especially considers the vast amounts of medicines that expire and get disposed without being used, which are values at 5 billion dolars in the US only and the problem is of similar size in all 33 european countries we analysed. This problem has 3 significant dimensions. 1) Economic --> Wasting medicine is wasting money, 2) Environmental --> 15% of the medicines that are wasted are toxic for the environment and 3) Social --> We dispose massive amounts of medicines, while over 5 billion people across the planet lack access to them.

Drug n Drop gives a holistic solution to that problem. How? Through a complete smart system to manage medicine and provide value across the pharmaceutical value chain. Our system consists of 2 parts, hardware and software. The hardware is a smart bin with the ability to recognise the amounts and types of medicines inserted in it, using a barcode scanner and also to monitor conditions internally, using 4 different sensors. The software is an IT system, that analyses the data that derive from the smart bin and produces insights reports, which are displayed in a user friendly mobile app, available for all different user groups (pharmacies, pharmaceutical manufacturers, end consumers).

The tota addressable market wordwide are the 1.5 million pharmacies and the 30.000 pharmaceutical manufacturers. Opperations begin in Greece, which is the european champion in per capita pharmacies (total 10.342) and then expansion will follow to the european market, consisted by 97.000 pharmacies.

Revenue is generated by 4 different streams. The main revenue stream is the sales of collective reports to the pharmaceutical manufacturers which include real data and information regarding pharmaceutical waste and expired medication. This stream is complemented by the sales of individual reports to pharmacies, the sales of the smart bins themselves and the income from recycling the materials of the packages of expired medicines.

Our competitive advantage derives from the data analytics and leveraging real data from the pharmaceutical waste. It is essential for the pharmacies and pharma manufacturers, who manage medicine massively, to obtain information on the type and quantity of medicines that are disposed.

Our team has experience and has already been quite active regarding the development of Drug n Drop. In particular, we acquired the 1st place in the national finals of the JA Greece Start Up Competition 2022, while we also acquired the 3rd place in the european competition Gen-E 2022 among 41 other national winners. At the Gen-E except from the 3rd place, we were also shortlisted for 5 Gen-E signature awards from which we acquired 1, the GAM Investments Financial Sustainability and Growth Award, while our CEO Nikolas won the JA Alumni Leadership Award. At the moment, we are nominated for the Forbes 3030 list, while we are working with Hellas Digital towards our system's commercialization and mass production, in order to sell it to IFET (from which we received a letter of intent) and install it to the Greek pharmacies.