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The online pharmacy was last valued at $5.6 billion in 2021, followed by nearly 90 percent decrease in its valuation amidst debt repayment related challenges.
The partnership with Cuban-backed Cost Plus Drugs is expected to bolster Lupin's U.S. business, which already accounts for nearly 33% of its 2023 revenue.
The Manipal Group's family office had made a binding offer to invest up to Rs 1,300 crore in the online pharmacy
In a wideranging interview, the CEO of India’s biggest e-pharmacy defended online retailers, saying they are in full compliance with the law.
Online pharmacies do not comply with licence conditions like selling against a prescription, maintaining records about the sale of Schedule H drugs, and more, which can lead to drug abuse and self-medication.
The co-founder of the online pharmaceutical retailer wants the Centre to spell out clear guidelines on predatory pricing and heavy discounts on drugs being offered by some e-pharmacies.
Pharmeasy reported a net loss of Rs 3,992 crore for FY22 against Rs 641 crore in FY21 (2020-21), the company's filings with the Ministry of Corporate Affairs showed. However, excluding exceptional items or one-time loss on impairment of goodwill, the company reported a loss of Rs 2,731 crore during the year, the filings showed.
Customers, both caregivers and patients, will now be able to order more than 48,000 prescription medicines via the Flipkart app
Tata 1mg's revenue from operations in FY21 stood at Rs 134.04 crore and its net loss was Rs 281.41 crore. Its other income for the financial year ended March 31, 2021, was Rs 24.14 crore.
Online pharmacy is becoming a fiercely competitive space as Reliance recently bought NetMeds and Tata Digital acquired 1mg. Amazon's partnership with an offline large player will heat up the space even more.
Subscription model is expected to go a long way in improving the order predictability of e-commerce companies, especially e-pharmacy segment, which specially is, marred with high cancellation rates.
Netmeds founder Pradeep Dadha's family investment fund, boutique investment bank MAPE Advisory Group also participated in the funding, the company said in a statement.
For middle age and elderly patients, ‘mail order service’ for chronic medicines has been a boon in developed countries. Patients, payers ...
Alibaba Group's effective equity ownership of Alibaba Health will increase from 38 percent to about 53 percent, making it a consolidated subsidiary of the group, China's biggest e-commerce company said.
