Today, Flipkart wants to enter e-pharma | The comparison

Today, Flipkart wants to enter e-pharma | The comparison

It's all happening in India's e-pharmaceutical sector. First of all, it was Amazon India that launched its online pharmaceutical store. Next, Reliance Industries was looking to acquire NetMeds, the famous Chennai-based electronic pharmaceutical company. Today, Flipkart wants to enter the e-pharma sector. The news is that Walmart-owned Flipkart is in talks with Mumbai-based electronic pharmaceutical company PharmEasy, which is also said to be in talks with another medical company called Medlife. Flipkart CEO Kalyan Krishnamurthy has held several rounds of talks with senior executives at PharmEasy, according to a Times of India report. But even if the deal with PharmEasy doesn't materialize, Flipkart would be willing to go ahead with its own team and get into the e-pharmacy business. Just as education and entertainment moved online during the lockdown, people have also turned to online counseling, medical tests, and drug delivery. There has been a huge increase in telemedicine. Several countries are trying to move healthcare delivery online, encourage telemedicine, encourage online drug reservations, and use chatbots to respond to patient requests. So there is a wave of activity in the e-pharma space. The global market for online pharmacies is estimated at €55 billion worldwide. In India itself, it is expected to reach $16.000 billion in the next five years. But growth comes in spurts, because there are strict rules for selling drugs. But the lockdown has increased the demand for drugs online. In India, healthcare startups Practo, NetMeds, 1mg, PharmEasy and Medlife are receiving special attention and have also secured funding from major players.

But the e-pharmacy market is subject to strict government regulations and marked resistance from traditional medical stores. Last year, India's Ministry of Health asked e-pharmacies to partner with offline retail pharmacies only to deliver medicines to consumers, not to store them. Many online pharmacies have opposed the rule, as it hurts their margins and increases reliance on local pharmacists. And just a few days ago, after Amazon India unveiled its e-pharma platform, the All India Organization of Pharmacists and Chemists (AIOCD) wrote to the Prime Minister and other senior officials in the country, claiming the launch was illegal. Their argument is that electronic pharmacies are illegal and not legally recognized by the Medicines and Cosmetics Law. The rules establish that the sale of certain drugs must be accompanied by prescriptions. The Amazon Pharma site has the functionality to download the doctor's prescription to buy any medicine. Apparently, it is mandatory to buy medicines on the site. So how effective will the AIOCD protest be? Companies like Swiggy and BigBasket are also looking to diversify into drug delivery, primarily through partnerships with online pharmacies. Flipkart is looking into the legal ramifications of the whole issue and is also said to be consulting with legal minds to resolve any issues with the business.