In the article below, we sit down with 2019 Top 10 Hero, Chibuzo Opara, as he shares his journey in DrugStoc and the challenges of transforming the pharmaceutical supply chain in Africa’s complex healthcare markets. He discusses his experience leading in the healthcare industry, the innovations that drive DrugStoc, and his vision for the future of his company. DrugStoc is a health-tech social enterprise that provides reliable and affordable pharmaceutical solutions to hospitals, pharmacies, and healthcare providers in Africa. Chibuzo co-founded the company in 2015, aiming to address the pressing issue of access to quality and affordable medications in Nigeria and beyond.

1. What is Drugstoc’s mission, and what specific problem are you aiming to solve in healthcare, particularly in Nigeria?
   
   DrugStoc's mission is to democratize access to quality healthcare for one billion Africans. We achieve this through innovative health-tech solutions layered on brick-and-mortar pharmaceutical distribution operations, partnering with over 7,000 pharmacies across Nigeria. Our platform addresses the traditional inefficiencies in procuring pharmaceutical products by leveraging cloud-based technology, data analytics, innovative supply chain processes, financial solutions, and deep healthcare expertise to ensure seamless access to quality medications.
2. Could you paint a broader picture of the challenges that exist in Nigeria as a result of inefficiencies in the pharmaceutical supply chain and their implications on mortality rates?
   
   Nigeria’s pharmaceutical supply chain faces deeply rooted systemic challenges that limit access to essential medications and timely healthcare services. These issues include frequent stockouts of critical medicines, unreliable distribution networks, and the widespread presence of counterfeit drugs. Limited access to life-saving treatments exacerbates the situation, particularly in underserved areas. Furthermore, inadequate infrastructure for cold-chain logistics impedes the delivery of temperature-sensitive medications such as vaccines, diminishing their efficacy and putting vulnerable populations, including children and pregnant women, at greater risk. These inefficiencies also affect emergency response during disease outbreaks and contribute to resource wastage due to drug expiration. As a result, mortality rates from both acute and chronic conditions remain high, highlighting an urgent need for investment in supply chain infrastructure, regulatory strengthening, and technology-driven solutions to improve healthcare outcomes.
3. Please share with us about Drugstoc’s performance and impact to date. How many have you reached over the years, and what is the scale of your operations so far?
   
   DrugStoc has made significant strides in improving access to quality healthcare across Nigeria. Since its establishment in 2015, we have developed a robust network of over 7,000 healthcare providers, including hospitals, clinics, pharmacies, and health maintenance organizations. This extensive reach has enabled DrugStoc to impact the lives of millions of patients, ensuring the availability of essential pharmaceutical products, particularly in underserved and hard-to-reach communities.
   
   In 2021, DrugStoc secured $4.4 million in a Series A funding round to expand its operations within Nigeria. This investment is testament to the company's commitment to scaling its services and further strengthening its supply chain infrastructure to meet the growing healthcare needs of the population.
   
   By leveraging cloud-based technology and innovative supply chain solutions, we continue to play a pivotal role in transforming pharmaceutical distribution in Nigeria, ensuring that quality medical products are accessible to healthcare providers and, ultimately, to patients who need them the most.
   
   

   Image: Pharmacy partner of DrugStoc
4. Supply chain challenges are inherent in your industry. Could you share examples of some challenges that Drugstoc actively faces and how you have managed to mitigate its impact on your business?
   
   The pharmaceutical industry faces numerous supply chain challenges, many of which have been exacerbated by global economic pressures. The impact of global inflation, driven by currency fluctuations and fuel subsidy removals, has significantly increased the cost of pharmaceutical products and operational expenses. This has squeezed affordability for healthcare providers and patients alike. Operationally, we face issues such as logistical bottlenecks, especially when transporting temperature-sensitive medications that require strict cold chain management. The risk of counterfeit drugs also is a persistent threat, undermining trust in the pharmaceutical supply chain. Additionally, regulatory hurdles and fragmented distribution networks pose challenges to ensuring timely and reliable access to quality medications.
   
   To mitigate these challenges, we have adopted several strategic measures. We leverage technology-driven solutions such as cloud-based inventory management and real-time supply chain monitoring to optimize distribution routes and improve stock forecasting. This helps minimize stockouts and reduce wastage of critical medications. Our partnerships with trusted manufacturers and distributors strengthen our ability to source genuine pharmaceutical products and maintain robust quality control systems.
   
   We also invest in financial solutions that support healthcare providers by easing payment terms and enhancing procurement efficiency. Despite macroeconomic pressures, these efforts ensure that we continue to empower healthcare providers and maintain reliable access to life-saving medications for patients across Nigeria.
5. You operate in a tech landscape that is rapidly evolving. How do you incorporate innovation into Drugstoc’s operations? What new products or services are you exploring to stay ahead?
   
   We recognize the critical importance of continuous innovation to stay ahead and ensure we meet the ever-changing needs of the healthcare ecosystem. One of the areas we are currently exploring is patient-focused solutions. How do supply chains impact care at the patient level? This year we will be focusing on how supply chains can revolutionize the way patients access healthcare by leveraging new advances in technology to bridge the gap between patients, doctors, and pharmaceutical products. With faster access to medical care, patients can address health issues before they escalate into more severe conditions, ultimately preventing fatalities from treatable diseases. This is how we can leverage innovation in the care continuum. By making healthcare more accessible, affordable, and efficient, our platform aims to address long-standing barriers to quality healthcare. Through these innovations, we are positioning ourselves as a forward-thinking leader in the healthcare space, committed to improving healthcare accessibility and ultimately saving lives.
6. You have obtained support from international organizations like the Bill & Melinda Gates Foundation, Omidyar Network and others, how have these partnerships shaped your growth and mission?
   
   Our partnerships with international organizations like the Bill & Melinda Gates Foundation, Omidyar Network, and others have been crucial in shaping our growth and advancing our mission to improve access to quality pharmaceutical products, especially for underserved communities in Nigeria. These collaborations have provided essential funding, allowing us to scale operations, invest in technology, and build necessary infrastructure. The expert guidance and strategic insights from these partners have enabled us to implement best practices in supply chain management, distribution, and regulatory compliance. Their support has also enhanced our credibility, opening doors to new partnerships and helping us negotiate favorable terms with suppliers.
   
   We have also leveraged innovative technology to improve efficiency and transparency in our operations, such as the launch of Pillometer 2.0 - our pharmacy operating software that provides real-time analytics on stock depletion, improves patient relationship management, and uses AI to assist pharmacists in ensuring accurate prescriptions and minimizing drug to drug interactions. These partnerships have strengthened our commitment to health equity, helping us develop a distribution model that prioritizes access to life-saving medicines for vulnerable populations. They have provided the financial, technical, and strategic support necessary to reach underserved communities with essential healthcare products.
7. Since the problem you're solving extends beyond Nigeria, do you have plans to expand Drugstoc into other African countries? If so, which markets are you eyeing and why?
   
   Yes, we do plan to expand into other African countries, particularly those with similar challenges in healthcare access. We see significant potential for our pharmacy operating system in these markets, and we are actively exploring opportunities to replicate our success. While each country is unique, we are focused on identifying the right partnerships that can drive meaningful change in healthcare access for underserved populations. Our goal is to improve the availability and distribution of essential pharmaceutical products across the continent, and we believe our model can have a positive impact in multiple markets.
8. As someone who has successfully raised funds in the past, what has your experience with fundraising been as an Africa-based founder? Are there specific tips from your experience you would share with other founders?
   
   My experience with fundraising as an Africa-based founder has taught me a few key lessons. One important piece of advice is to focus on building and working on your business as if you don’t need funding. When you're fully immersed in growing your business and showing traction, the fundraising conversations become much easier. Investors are more inclined to support businesses that have demonstrated real progress. Also, it’s essential to consider strategic funders, not just financial ones. While funding is crucial, strategic investors can offer far more value beyond just capital - things like industry expertise, valuable networks, and strategic guidance that can help scale your business more effectively.
9. Have there been moments in your entrepreneurial journey when you questioned whether you would continue? What kept you going?
   
   Absolutely. There have been many tough moments - funding challenges, regulatory obstacles, and the sheer complexity of building a business in such a critical industry as healthcare. There were times when I questioned whether it was all worth it. However, what kept me going was the mission. Every time I saw a hospital or pharmacy gain reliable access to life-saving medications thanks to DrugStoc, it reminded me of why I started in the first place. The impact was tangible. In addition, having the right people around me such as my co-founder, Adham Yehia, our resilient team, and the healthcare providers who continued to believe in what we were building gave me the strength to push forward, no matter the obstacles.
10. If you were to go back to the beginning of your drugstoc journey, what would you tell yourself that another entrepreneur can also learn from?
    
    It will be hard but you can do it.
11. As we begin the new year, could you share some plans Drugstoc has for 2025?
    
    Our focus remains on strengthening access to quality healthcare. We are excited about the growing community of pharmacies using our pharmacy operating software to streamline and enhance their operations.
    
    
    
    Our virtual pharmacy assistant, DORA, is playing a key role in reshaping healthcare by delivering personalized care across hundreds of thousands of pharmacies. Looking ahead to 2025, we are eager to expand our impact, welcoming more pharmacies and hospitals into our journey to optimize healthcare access and improve outcomes for more communities.

Back to Home