The Inspiring Rags to Riches Success Story of Mariano Que | History of Mercury Drug

Summary

This episode of 'Brand Fever' explores the rise of Mercury Drug in the Philippines, the country's dominant pharmaceutical chain with a 50-60% market share. Founded by Mariano Que, the company started with humble beginnings selling sulfa drugs post-WWII, focusing on trust and quality. Mercury Drug's growth included innovative strategies like 24-hour stores and pioneering medical equipment distribution. Today, the brand is synonymous with authentic medicine, and the Mercury Group has expanded into various industries, reflecting Que's philosophy of serving others.

Takeaways

• 🏪 Mercury Drug is the leading pharmaceutical chain in the Philippines with a market share of around 50-62%.
• 💊 The brand is built on trust, providing authentic medicines to the public, which has been its foundation since its inception.
• 👶 Mariano Que, the founder of Mercury Drug, started with humble beginnings, working in a drugstore and learning about the medication needs of the people.
• 💡 The introduction of sulfa drugs in the 1930s revolutionized medicine, making treatments for previously difficult illnesses possible and were in high demand during World War II.
• 🛒 After the war, due to scarcity, there was a surge in demand for medicines, and Mariano Que capitalized on this by selling medicines, starting with sulfathiazole.
• 🛍️ Mercury Drug differentiated itself by maintaining the quality and freshness of its products and offering fair prices, building a strong reputation in the process.
• 🏠 Mercury Drug's first store was opened in Bambang, Manila on March 1, 1945, named after the Roman god Mercury, symbolizing the medical profession.
• 🚚 In 1948, Mercury Drug started a delivery service, showcasing its commitment to customer convenience and service.
• 🕒 The company extended its store hours to 17 hours a day and later to 24 hours, setting a new standard for accessibility in the pharmaceutical retail industry.
• 📈 Mercury Drug's growth included not only opening new branches but also acquisitions, such as the Medical Center Drug Corporation, expanding into pharmaceutical equipment distribution.
• 🌐 Beyond its pharmaceutical roots, the Mercury Group diversified into convenience stores and fast food chains, contributing to its overall growth and expansion.

Q & A

What is the significance of the name 'Mercury Drug' in the context of the brand's history?

The name 'Mercury Drug' is significant as it was named after the Roman god Mercury, who is the bearer of the caduceus, a symbol of the medical profession. This reflects the brand's commitment to the pharmaceutical industry.

Why did Mariano Que's experience working in a drugstore in Manila play a crucial role in the foundation of Mercury Drug?

Mariano Que's experience in a drugstore exposed him to the world of medication, allowing him to understand the needs of people, the effectiveness of different medicines, and the common illnesses, which laid the groundwork for the future Mercury Drug business.

What were 'sulfa drugs' and why were they considered revolutionary during the 1930s?

Sulfa drugs were a new type of medication developed by German scientists in the 1930s. They were considered revolutionary because they enabled the treatment of pneumonia, several bacterial infections, and gonorrhea, which were difficult to treat before their introduction.

How did the post-World War II environment in the Philippines influence the growth of Mercury Drug?

Post-World War II, the Philippines experienced a scarcity of supplies, including medicines. This created a high demand for medicines, particularly sulfa drugs, which Mercury Drug capitalized on by selling them to meet the urgent needs of the people.

What was unique about Mariano Que's approach to selling medicines during the early days of Mercury Drug?

Mariano Que differentiated himself by ensuring the quality and freshness of his products and by pricing them fairly. This focus on customer trust and product authenticity helped establish Mercury Drug's reputation as a reliable source for medicines.

How did Mercury Drug expand its services to customers in the 1940s and 1950s?

Mercury Drug expanded its services by introducing a medicine delivery service in 1948 and by extending store hours to be open 17 hours a day, seven days a week in the 1950s, eventually leading to 24-hour store operations by 1965.

What was the significance of Mercury Drug opening its second location in a shopping center in Makati?

The opening of Mercury Drug's second location in a shopping center in Makati marked its transition from a single store operation to a growing chain and its recognition as a top-tier brand by Ayala Corporation, a significant player in the retail industry.

How did Mercury Drug's acquisition of Medical Center Drug Corporation (MCDC) in 1970 diversify its business?

The acquisition of MCDC allowed Mercury Drug to enter the distribution of pharmaceutical equipment, supplies, and surgical instruments, complementing its existing pharmaceutical retail sales and making it a leading importer and distributor in the country.

What were some of the challenges Mercury Drug faced as it expanded its number of branches?

As Mercury Drug expanded, the challenge was to maintain the same quality of service across a larger scale. To address this, the company invested in technology and assets like computer-guided temperature-controlled warehouses and biological refrigerators to ensure product quality.

How did Mercury Drug contribute to the community beyond its pharmaceutical services?

Mercury Drug contributed to the community through the Mercury Drug Foundation, which provides full scholarships to pharmacy students, holds medical outreach programs, offers free medical services and medicines to underserved communities, and provides access to water for communities in need.

What was Mariano Que's perspective on success and how did he apply it to his life and business?

Mariano Que believed that success is measured not by wealth or business empires but by the ability to use one's life and resources to serve and touch the lives of others. This perspective guided his philanthropic efforts and the social initiatives of Mercury Drug.