India needs clarity and parity in the e-pharmacy business
18-Sep-17, VC Circle
Sequoia-backed online drugs marketplace 1mg, which has raised a total of USD37 mn, operates in a space fraught with regulatory issues. The sector, with players such as NetMeds, mChemist, Pluss, Medikoe and BigChemist, is seeing an uptick in investment after a lean period in 2016.
%20VC%20Circle.jpg "India needs clarity and parity in the epharmacy business (c) VC Circle")
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Recently, the Drugs Consultative Committee recommended that all e-pharmacies be registered with the Central Drugs Standard Control Organisaion (CDSCO), national portal for monitoring online sale of drugs be set up and it also put geographical restriction on operations of e-pharmacies.
1mg founder Prashant Tandon said "We are asking for clarity so that the drug inspector doesn’t get to say that he is concerned with only one part of the law... Second is parity. DIPP has clearly defined marketplaces. We need a level playing field with respect to the offline market."