Treating patient's data with privacy, compliant with all regulations, says Tata 1MG chief Prashant Tandon

Online pharmacies like Tata 1MG are engaged with the government on the subject of approving online pharmacies over concerns related to data privacy, according to co-founder and CEO Prashant Tandon.

In a conversation with CNBC-TV18, Tandon said that the government is concerned over data privacy, sales of medicines without prescription and predatory pricing. "Core things is these are very well governed issues. If such concerns arise, we need to look into it," he said.

Tandon added that e-pharma companies see the issues as business imperatives and asserted that 1MG treats patient's data with privacy and complies with all existing regulations.

Top e-pharmacy players such as Tata 1mg, Reliance NetMeds, Flipkart Heatlh+ and others are likely to take a hit as the government is planning a U-turn on its approval for online pharmacies due to “concerns over data privacy, sales of medicines without prescription and predatory pricing”, according to reports.

On discount war between e-pharmacy companies, Tandon said pricing is a competitive market. "It's an important issue to deliberate on for which the government has set up a committee. Pricing regime should work for the consumers and over the long it should be low for the consumers."

The Tata 1MG chief said that the company is proactively in touch with the government to engage for regulations and to to understand the concerns they have.

The Drug Controller General of India (DCGI) had in February issued show-cause notices to several e-pharmacy companies, including Tata 1MG, for violation of the Drugs and Cosmetics Act 1940, as they were found to be selling schedule H, H1 and X without a valid licence.

We want to address the concerns and come to a solution, Tandon added.