View source for Company:PharmEasy

{{Short description|Indian online healthcare company}}
{{Use Indian English|date=January 2023}}
<!-- Note: The following pages were redirects to [[Company:PharmEasy|PharmEasy]] before draftification:
*Draft:PharmEasy
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{{Infobox company
| name = PharmEasy
| logo = Logo big.svg
| type = Private
| industry = {{plainlist| 
*Healthcare
*[[Social:E-commerce|E-commerce]]
*[[Engineering:Information technology|Information technology]]
*[[Finance:Retail|Retail]]}}
| founded = {{Start date and age|2015}}
| hq_location_city = {{wipe|Mumbai}}, Maharashtra
| hq_location_country = India
| num_locations = 1000+ cities in India (2021)<ref name="Pharmeasy">{{cite web|title=PharmEasy official site |url=https://pharmeasy.in/help/delivery-43000349427/which-cities-do-you-operate-in--43000219803|access-date=3 July 2021}}</ref>
| area_served = India
| revenue = {{increase}} {{INRConvert|5729|c}} (FY22)<ref name="FY22"/>
| net_income = {{negative increase}} {{INRConvert|-2731|c}} (FY22)<ref name="FY22">{{cite news |title=PharmEasy FY22 loss widens to Rs 2,700 cr as employee costs surge five-fold |url=https://www.moneycontrol.com/news/business/startup/pharmeasy-fy22-loss-widens-to-rs-2700-cr-as-employee-costs-surge-five-fold-9749351.html |access-date=28 April 2023 |work=Moneycontrol |language=en}}</ref>
| services = [[Medicine:Medicine|Medicine delivery]] <br> Healthcare services
| website = {{url|www.pharmeasy.in}}
}}
'''PharmEasy''' is an Indian multinational [[Medicine:Online pharmacy|e-pharmacy]] company that sells medicines, diagnostics and telehealth online.<ref>{{Cite web|title="Built A Strong Backend Before A Good Frontend"|url=https://www.fortuneindia.com/venture/built-a-strong-backend-before-a-good-frontend/106015|access-date=2021-11-06|website=www.fortuneindia.com|language=en}}</ref>

== History ==
The company was founded in 2015 by Dharmil Sheth and Dhaval Shah in {{wipe|Mumbai}} with the initial seed funding provided by their parents.<ref>{{Cite web|last=Datta|first=PT Jyothi|title=The charge of the young brigade from PharmEasy|url=https://www.thehindubusinessline.com/specials/corporate-file/the-charge-of-the-young-brigade-from-pharmeasy/article35664349.ece|access-date=2021-11-06|website=@businessline|date=August 2021 |language=en}}</ref> The company wanted to expand beyond the Mumbai market and received their Series A funding.

In May 2021, PharmEasy acquired rival e-pharmacy company Medlife for an undisclosed amount.<ref>{{cite news |title=PharmEasy acquires Medlife, becomes India's largest e-pharma company |url=https://www.business-standard.com/article/technology/pharmeasy-buys-medlife-becomes-largest-e-pharma-firm-with-2-mn-customers-121052501055_1.html |access-date=5 July 2023 |work=Business Standard}}</ref> In June 2021, the company acquired a 66.1% stake in diagnostics chain Thyrocare for {{INRconvert|4546|c|mode=historical|year=2020}}.<ref>{{Cite web|date=2021-06-27|title=PharmEasy: A tryout's journey through tests to the Thyrocare takeover|url=https://www.cnbctv18.com/startup/pharmeasy-a-tryouts-journey-through-tests-to-the-thyrocare-takeover-9794421.htm|access-date=2021-11-06|website=cnbctv18.com|language=en}}</ref><ref>{{cite news |title=PharmEasy buys out Thyrocare for ₹4,546 cr |url=https://www.thehindubusinessline.com/companies/pharmeasy-buys-out-thyrocare-for-4546-cr/article34978562.ece |access-date=5 July 2023 |work=The Hindu Businessline |date=25 June 2021 |language=en}}</ref> In September 2021, it acquired a majority stake in Aknamed, a healthcare supply chain company.<ref>{{cite news |title=PharmEasy buys majority stake in healthcare supply chain start-up Aknamed |url=https://www.business-standard.com/article/companies/api-holdings-invests-rs-308-cr-in-healthcare-supply-chain-startup-aknamed-121091400785_1.html |access-date=5 July 2023 |work=Business Standard}}</ref>

In November 2021, the company filed papers to launch its [[Finance:Initial public offering|initial public offering]] (IPO) of {{INRconvert|6250|c|mode=historical|year=2020}}.<ref>{{cite news |last1=Mudgill |first1=Amit |title=PharmEasy parent API Holdings files draft papers for Rs 6,250 crore IPO |url=https://economictimes.indiatimes.com/markets/ipos/fpos/pharmeasy-parent-api-holdings-files-draft-papers-for-rs-6250-crore-ipo/articleshow/87618075.cms |access-date=5 July 2023 |work=The Economic Times |date=10 November 2021}}</ref> The company withdrew its IPO plans in August 2022.<ref>{{cite news |title=PharmEasy parent recalls draft IPO papers, weighs rights issue to raise funds |url=https://www.moneycontrol.com/news/business/pharmeasy-withdraws-drhp-for-ipo-9062161.html |access-date=5 July 2023 |work=Moneycontrol |date=20 August 2022 |language=en}}</ref>

== Competition ==
PharmEasy competes with other e-pharmacy companies including Netmeds (which was acquired by Reliance Industries), 1mg (acquired by Tata Group), Apollo 24x7 and Amazon Pharmacy.<ref>{{Cite web|date=2020-09-18|title=PharmEasy-Medlife Merger May Hit CCI Hurdle As Chemist Association Protests|url=https://inc42.com/buzz/pharmeasy-medlife-merger-may-hit-cci-hurdle-as-chemist-association-protest/|access-date=2021-11-06|website=Inc42 Media|language=en-US}}</ref> The Ken questioned the company's positioning as a unified healthtech player and referred to the company's story as "more confusing than convincing".<ref>{{Cite web|date=2021-10-05|title=PharmEasy's theory of healthtech: Unified or confused?|url=https://the-ken.com/story/ipo-bound-pharmeasys-theory-of-healthtech-unified-or-confused/|access-date=2021-11-06|website=The Ken|language=en-US}}</ref>

==Criticism==

===Medlife–PharmEasy merger protests===
In 2020,  PharmEasy and Medlife were in merger talks which came to the attention of the Competition Commission of India (CCI), which approves such mergers. The merger was protested by The South Chemist and Distributors Association (SCDA), who objected that sales of medicines online was illegal in India. The online sales of medicines was later regulated and the merger was completed in 2021.<ref>{{Cite web|author=John Sarkar|date=26 May 2021|title=Pharmeasy Medlife acquisition: PharmEasy buys Medlife, to be no. 1 e-health entity {{!}} India Business News - Times of India|url=https://timesofindia.indiatimes.com/business/india-business/pharmeasy-buys-medlife-to-be-no-1-e-health-entity/articleshow/82962089.cms|access-date=2021-11-06|website=The Times of India|language=en}}</ref><ref>{{Cite web |title=What Went Wrong At PharmEasy And Can It Find A Cure? |url=https://www.forbesindia.com/article/take-one-big-story-of-the-day/what-went-wrong-at-pharmeasy-and-can-it-find-a-cure/86535/1 |access-date=2023-10-25 |website=Forbes India |language=en}}</ref>

===PharmEasy advertisement===
Members of the [[Religion:Hinduism|Hindu]] religion criticized one of the company's advertisements and said that religious sentiments were hurt for the sake of marketing and sales. The advertisement in question showed Lakshman being struck and [[Biology:Rama|Ram]] needing Sanjeevani, asking who will bring the medicine from such a long distance. Two PharmEasy employees arrive by scooter to deliver it.<ref>{{Cite web|last=www.ETBrandEquity.com|title=2019 in review: When brands courted controversy on social media - ET BrandEquity|url=https://brandequity.economictimes.indiatimes.com/news/digital/2019-in-review-when-brands-courted-controversy-on-social-media/72976619|access-date=2021-11-06|website=ETBrandEquity.com|language=en}}</ref>

== References ==
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[[Category:E-commerce]]
[[Category:Companies (Finance)]]
[[Category:Companies]]

{{Sourceattribution|PharmEasy}}