How e-pharmacies escaped death, survived & turned the tables on their opponents
Though still not final, the new policy is a major victory for online pharmacies over their offline peers
India’s drug laws from the 1940s do not allow for e-commerce in medicine sales, naturally
That has allowed offline pharmacies to lobby the government to shut down online pharmacies. Many died
So the remaining e-pharmacies got together and fought back, as an association
And they appear to have won
If Zigy, the online pharmacy started by former Infosys senior executive and iGate CEO Phaneesh Murthy, were a person, the place where it died sometime towards the end of 2016 would now be a memorial.
A memorial dedicated to a fearless, though some would say foolhardy, pioneer that decided to run guns blazing into the thicket that was India’s pharmacy sector. In just over a year, it fearlessly took on the powerful offline lobby and outdated government regulations and expanded into five major Indian cities. And it almost made it.
Because what brought Zigy down,…
Sign up to read this story for free right away
Stories on The Ken are available only for its subscribers. This story is shared with you for free, just sign up to get instant access.
Get full access to all stories on The Ken. Rs. 2,750/year or Rs. 900/quarter
Dear subscriber - a lot of hard work goes into the journalism we put out. While sharing snippets or limited screenshots is okay, please avoid printing and sharing our entire articles as PDFs. Our plans are very affordable - please ask your friends to subscribe.