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Netmeds

Netmeds

NetMeds is an online pharmacy based in Chennai, India, Netmeds provides online ordering and mail delivery of prescription and non-prescription medications.

Netmeds
private company, pharmacy
Industryretail
FoundersPradeep Dadha
HeadquartersChennai, India
Area served
India, worldwide
Servicessale of medications, prescription drugs
OwnerPradeep Dadha Group of Companies
Websitenetmeds.com

Overview

Customers place their orders online and receive delivery to their homes by mail two to four days later.

Until Netmeds and additional Indian online pharmacies began operation in 2015, Indian consumers had no choice but to travel at times long distances to buy their medications, and to wait in queues at pharmacies to make their purchases.

The online sale of drugs by pharmacies is new and somewhat controversial in India, because legislation controlling the sale of drugs hasn't kept up with online technologies and the mail distribution of medications.

Pharmacy regulators and political leaders, including representatives of the Drug Controller General of India, and Indian Pharmaceutical Association, have met in recent months to develop the best rules to govern the safe operation of online pharmacies for Indian consumers. India's consumer pharmacy market is estimated to be valued at US$18 billion and likely to grow to US$55 billion by the year 2020. [1] [2]

History

In 2015, the Pradeep Dadha Group of Companies,announced the establishment of Netmeds.com.

[3] MAPE Advisory Group, a financial services firm, will be an investor in the privately owned pharmacy.

[4] A few months later, Orbimed, a private equity firm, invested an additional US$50 million (Rs 325 crore) in Netmeds, to support the pharmacy.

[5]

The pharmacy's parent company additionally sells drugs wholesale to Indian pharmacies, and operates retail pharmacies in Tamil Nadu.

Management

Pradeep Dadha, founder, heads the company with co-founder Bruce Schwack.

[6] Dadha has had experience leading his family's pharmacy business, including managing a large chain of brick-and-mortar stores throughout South India and providing fulfilment services and back-office management for international pharmacies serving consumers worldwide.

[7]

References

[1]
Citation Linken.wikipedia.orgThe original version of this page is from Wikipedia, you can edit the page right here on Everipedia.Text is available under the Creative Commons Attribution-ShareAlike License.Additional terms may apply.See everipedia.org/everipedia-terms for further details.Images/media credited individually (click the icon for details).
Jul 5, 2016, 7:14 AM
[2]
Citation Linkfinancialexpress.comLink on financialexpress.com
Jul 5, 2016, 7:14 AM
[3]
Citation Linklivemint.comhttp://www.livemint.com/Companies/EGTOILRRNF0T3J4OfUg9SN/Will-online-pharmacies-work-in-India-and-are-they-even-lega.html
Jul 5, 2016, 7:14 AM
[4]
Citation Linkthehindubusinessline.comLink on thehindubusinessline.com
Jul 5, 2016, 7:14 AM
[5]
Citation Linkarticles.economictimes.indiatimes.comLink on indiatimes.com
Jul 5, 2016, 7:14 AM
[6]
Citation Linkeconomictimes.indiatimes.comLink on indiatimes.com
Jul 5, 2016, 7:14 AM
[7]
Citation Linkbiospectrumindia.com"Dadha Pharma to launch online pharmacy Net-Meds in Chennai"
Jul 5, 2016, 7:14 AM
[8]
Citation Linknewindianexpress.comLink on newindianexpress.com
Jul 5, 2016, 7:14 AM