Axmed raises $2M from Founderful to streamline drug supply chains in underserved markets [TechCrunch]
Novartis AG (NVS)
Last novartis ag earnings: 4/28 01:00 am
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Source: TechCrunch
It is estimated that about 2 billion people , especially those in lower and middle-income countries, lack access to quality and affordable essential medicines. The situation is exacerbated by low-quality or even killer counterfeit drugs that fill the gap. This shortfall means diseases that are otherwise treatable or preventable end up causing distress and even death. This is the problem that B2B marketplace Axmed is out to fix by addressing supply chain fragmentation, and the startup recently raised $2 million in seed funding from Founderful Ventures to fuel its plans. Focused on lower and middle-income countries, Axmed is building a marketplace that aims to link manufacturers with health institutions to fix the inefficiencies that lead to shortages, high costs and the proliferation of counterfeit drugs. The startup wants to pull that off by aggregating demand, enabling buyers to source drugs directly from manufacturers at lower costs, and move away from traditional pharmaceutica
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NVS
Earnings
- 4/23/24 - Beat
NVS
Sec Filings
- 4/23/24 - Form 6-K
- NVS's page on the SEC website