Flipkart plans to partner with PharmEasy for the startup of online medicine delivery services, e-pharmacy
After Amazon India, Walmart-owned Flipkart is hoping to enter the e-pharmacy space as the demand for online medicine delivery services has become more grounded because of the continuous coronavirus (COVID-19) pandemic. While Flipkart is building its group internally, it might likewise partner with Mumbai-based e-pharmacy startup PharmEasy for its most recent project.
As indicated by the most recent Economic Times report referring to sources, Flipkart CEO Kalyan Krishnamurthy has held numerous rounds of conversations with PharmEasy’s establishing team directed by Dharmil Sheth. Since the e-pharmacy section needs clear rules, Flipkart needs to make certain pretty much all legitimate systems before revealing the service, and dodge any conflict with traditional chemists, an individual mindful of the issue told the publication.
Flipkart is likewise open to any investment opportunity in PharmEasy, however the subtleties for the equivalent have not been settled at this point. Without remarking on the conversation for an association, Flipkart representative stated, “We are not in talks with any e-pharma player with an investment view as of now.” Meanwhile, PharmEasy’s Shah said, “as part of the industry, we keep talking to everyone.”
Purportedly, PharmEasy is additionally in advanced conversations to sign a merger with Bengaluru-based adversary Medlife to get a bigger pie of the market. As indicated by a Business Standard report referring to sources, the pair have been in talks for a merger deal esteemed at $200 Mn to $250 Mn to make one of the biggest healthcare organizations. With this, Medlife will hold 20-30% stake in the joined entity, the report has included.
In the meantime, Flipkart’s US-based adversary Amazon India propelled its online pharmacy service named ‘Amazon Pharmacy’ a week ago. The online pharmacy will be directed in Bengaluru first and will be extended to different urban communities later. In any case, this has not gone down well with All Indian Organization of Chemist and Druggists (AIOCD), who kept in touch with CEO Jeff Bezos getting out the launch of Amazon’s e-pharmacy business as “illegal”.
The association, which has almost 850K Indian chemists, noticed that the government had just permitted the sale of medicines online during the lockdown as it added up to a crisis, and that home delivering medicines would be in disdain of the Delhi high court’s decision that put a stay on online pharmacies. Other than this, the association noticed that there are no rules for e-pharmacies under the Drugs and Cosmetics Act of 1940.
“We have also given you enough evidence above to prove our point. We also have a full dossier ready on this subject and entering this space can bring on legal implications which can bring disrepute to Amazon’s name,” the company said.
Indeed, even Reliance is hoping to extend its grocery delivery venture JioMart to incorporate different classifications including meds. As indicated by media reports, Reliance is additionally in converses with secure NetMeds for somewhere close to $130 Mn to $150 Mn.
In the interim, Prime Minister Narendra Modi, on August 15, propelled National Digital Health Mission (NDHM) to revolutionize the Indian health sector. Under this, the administration will permit the patients to get to health services remotely through teleconsultations and e-pharmacies while offering other health-related advantages.