Online Pharmacy
US 'notorious markets' report warns of risks from online pharmacies
Nearly all of the world's 35,000 online pharmacies are being run illegally and consumers who use them risk getting ineffective or dangerous drugs, according to the US Trade Representative's annual report on notorious markets. The report also singled out 19 countries over concerns about counterfeit or pirated products. The report also named about three dozen online retailers, many of them in China or elsewhere in Asia that it said are allegedly engaged in selling counterfeit products or other illegal activities. The report says 96 per cent of online pharmacies were found to be violating the law, many operating without a license and selling medicines without prescriptions and safety warnings. Their websites often look like legitimate e-commerce platforms, often with false claims that they are approved by the Food and Drug Administration, said the report, released Wednesday. The FDA and US Drug Enforcement Administration have both issued warnings about risks of buying prescription ..
 "US 'notorious markets' report warns of risks from online pharmacies")
Online pharmacy operating losses to reduce in FY26, predicts CRISIL
For e-pharmacies, this positive trajectory is being driven by a strategic pivot towards high-margin product segments, such as wellness items and medical equipment
 "Online pharmacy operating losses to reduce in FY26, predicts CRISIL")
Online pharmacy players look for regulatory framework for industry
A division bench of the Madras HC has set aside an earlier order that disallowed them to engage in digital sale of medicines
 "Online pharmacy players look for regulatory framework for industry")
Online pharmacy PharmEasy raises $216 million at a 90% cut in valuation
According to a report, the Mumbai-based firm has also been trying to raise Rs 3,500 crore since August 2023 to repay the debt it took from Goldman Sachs
 "Online pharmacy PharmEasy raises $216 million at a 90% cut in valuation")
Sun Pharma Q3 results: Net profit increases 15% at Rs 2,524 crore
Sales in its US formulations business rose nearly 15 per cent to Rs 3,974 crore, while sales from its India formulations rose more than 11 per cent to Rs 3,779 crore
 "Sun Pharma Q3 results: Net profit increases 15% at Rs 2,524 crore")
Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr
Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses
 "Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr")
Tata 1mg overtakes PharmEasy as leaders in India's e-pharmacy market
Tata 1mg now holds 31% of the market share, up from 19% in October 2022. PharmEasy's market share decreased to 15% from 33% in the same period
 "Tata 1mg overtakes PharmEasy as leaders in India's e-pharmacy market")
World Pharmacists Day 2023: Date, theme, history, importance and more
World Pharmacists Day is observed globally every year on September 25th. It serves to respect and value the contribution of pharmacists in improving global health
 "World Pharmacists Day 2023: Date, theme, history, importance and more")
Lupin to sell generic respiratory drugs on Mark Cuban's online pharmacy
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
 "Lupin to sell generic respiratory drugs on Mark Cuban's online pharmacy")
USA's Neuberger Berman slashes valuation of India's Pine Labs, PharmEasy
Fintech firm's valuation cut by 38% and online pharmacy's by 21% as start-up investors battle macroeconomic uncertainties
House panel wants e-pharmacy rules in place asap, MoHFW to act soon
Meanwhile, e-pharmacies say they are open to working with the Ministry and regulators for any alignment required
 "House panel wants e-pharmacy rules in place asap, MoHFW to act soon")
Flipkart in talks to acquire Bengaluru-based e-pharma player Pharmallama
The deal may result in Flipkart gaining access to technologies of the platform, the people said on condition of anonymity
 "Flipkart in talks to acquire Bengaluru-based e-pharma player Pharmallama")
India's drug regulator serves show-cause notice to online pharmacies
Gives firms two days to respond to allegations that they flouted rules
 "India's drug regulator serves show-cause notice to online pharmacies")
Withdrawal of start-up IPOs take wind out of sails of unlisted market
Share prices, trading activity slump amid rising uncertainty for startup listings
 "Withdrawal of start-up IPOs take wind out of sails of unlisted market")
Udaan to provide medicine delivery to pharmacies every 4-hour
As part of the new service offering, Udaan will provide medicine delivery to pharmacies every 4-hour with 4 delivery slot options in a day to order medicines across six cities
 "Udaan to provide medicine delivery to pharmacies every 4-hour")
Online pharmacy platform Tata 1mg turns unicorn after raising $40 mn
Funding round was led by Tata Digital; Tata 1mg has become 105th unicorn in India
 "Online pharmacy platform Tata 1mg turns unicorn after raising $40 mn")
Start-ups collaborate with chemists, shake up offline pharma business
Some are managing supply-chain backend for retail pharmacies, right from stockist to chemist, others are offering telemedicine kiosks at chemist outlets, and digitising pharmacies
 "Start-ups collaborate with chemists, shake up offline pharma business")
Regulations needed to safeguard patient privacy, personal data: CCI
It said online pharmacies should adopt self-regulatory measures in the areas of collection, use, sharing of data and privacy
 "Regulations needed to safeguard patient privacy, personal data: CCI")
PharmEasy parent API Holdings in talks with SoftBank to raise $100-200 mn
Softbank is still evaluating proposal. The firm aims to acquire a company in the healthcare space and to clear loans raised earlier, says source
PharmEasy parent to acquire 66% stake in Thyrocare for Rs 4,546 cr
PharmEasy will retain the Thyrocare brand
 "PharmEasy parent to acquire 66% stake in Thyrocare for Rs 4,546 cr")
