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By Aishwarya Anand Mar 23, 2023 7:16:45 PM IST (Published)
It will be a bitter pill to swallow for the large players in the e-pharmacy market — Netmeds, Tata 1mg and PharmEasy, whose business swelled during the pandemic — and their investors, if the government takes a U-turn on the sector.
Over $700 million have been invested in e-pharmacy players since the beginning of the COVID-19 pandemic and some of the largest venture investors such as Sequoia and TPG are now facing the risk of seeing their investments evaporate without an IPO or an acquisition as an exit option.
Last year, PharmEasy had pulled its IPO papers and is now facing the hurdle. Over $1.6 billion have been invested in the online pharmacy players. It has also made some big-ticket acquisitions, picking up Medlife and even the listed Thyrocare to grow its diagnostics business.
