ePharmacy an easy and cost effective way to manage chronic problems

Alibaba, the Chinese e-commerce giant, on 11.11.2017 sold goods worth $25.4 billion
in a singles day, smashing its own record of 2016. Ecommerce is now thriving industry
of India. Home-grown Flipkart, Snapdeal and Paytm like prime Indian companies
redefined customer experience and breaking online shopping inertia.

ePharmacy, still remains widely untapped with tremendous potential in the future. The
market growth is fuelled by the rise of lifestyle disorders and large number of people
are suffering from chronic diseases like diabetes, hypertension, Asthma and Obesity,
leading to an increased requirement of therapeutics.

Unfortunately, the ePharmacy business in India has been viewed with suspicion by
the regulatory authorities even though the regulator had clarified that there was no
restriction on online sale of drugs till it complied with the existing FDA regulations and
all this under the pressure of medical store lobbies which has finally marred by the
controversies.

It is known fact that most of medical stores selling medicines without prescriptions and
does not abide the regulations. Most of the time, patients are forced to buy alternative
and substitutes on recommendations of Pharmacists selling at stores.

While, people can trust on ePharmacy as they always sell medicines as per
prescriptions. I see during last three years at MyMedicineBox, no medicine was sold
without genuine bill and always procured from the renowned distributors of respective
companies and are 100% authentic. More than 50000 customers buy with full
confidence.

The Indian Pharmacy business is governed by number of Acts and notifications. It is

mandatory to sell medicines on valid prescription issued by the registered practitioners
while there is no mechanism and coordination between the laws which governs
Doctors and Medical stores. It is need of hour, there should be only one Indian Medical
code which cover entire healthcare. One nation One Medical code.

Recently, draft rules are framed to regulate the sale of medicines online and to avoid
the present ambiguity and uncertainty.

India is the country of youngsters and they are spending enough time online and on
mobile. So buying in country will not be an issue. I am member of FICCI committee
helping in framing guidelines. I am confident the proposed regulations will regulate the
online selling of medicines effectively and will prevent misuse and be right way to
create a transparent competition to benefit patients at large and will benefits peoples
living even in small towns.

Infact, the ePharmacy has opened challenges for brick and mortar Medical stores.
ePharmacy has educated people about buying right medicines at best price as there
is huge gap in manufacturing cost and MRP. Patients can choose e-pharmacy which
gives cheaper drugs.
Technology is helping ePharmacy to scale up the business and offering more
transparency and patients are well informed and managing their diseases with ease.

ePharmacy is still at very nascent stage in India. ePharmacy and healthcare is an

important segment in the Indian E - commerce industry, it is anticipated to grow at a
CAGR of over 20%, crossing the US$ 3 Billion mark by 2024.

We see great opportunities in the Indian ePharmacy market as it opens employment

opportunities at large. MyMedicineBox tag line is Accessibility – Availability –
Affordability – Alacrity.

ePharmacy will create opportunity to Improve the Overall Healthcare Quality in India
and will support E-Healthcare & Digital India Initiatives by Government at large.

It is important to mention that the Government has shown some initiative to encourage
E-pharmacies. The Department of Pharmaceuticals, Government of India has
formulated the "Draft Pharmaceutical Policy 2017", wherein it has recommended that
E-pharmacies should be encouraged in the interest of consumers. This policy also
envisages detailed guidelines for E-pharmacies in addition to recognising the potential
for foreign direct investment in this sector.