5 Things in ePharmacy You Need to Know This Friday 03/03/23
5 Things in ePharmacy You Need to Know This Friday 03/03/23
New Research [🇺🇸]
Vanderbilt University Medical Center: Mark Cuban’s ePharmacy Could Save US $1.29B Yearly with Only 9 Meds
According to a study conducted by Vanderbilt University Medical Center (VUMC) researchers, Mark Cuban Cost Plus Drug Co. has the potential to save certain patients $1.29B annually by reducing the cost of the nine most popular urological medications covered by Medicare Part D. Any oral, generic medication offered by Mark Cuban's ePharmacy may be significantly less expensive for many patients through this program, not only Medicare patients, states one of the study's authors, Ruchika Talwar.
Read More: Becker’s Hospital Review
Legislation [🇮🇳]
China Has Made Major Investments in the Indian ePharmacy Sector
As China has been boosting its investments in the ePharmacy sector, the Indian government is standing by its decision to ban the selling of medications online in the face of geopolitical concerns between China and India, given that the neighboring nation has direct investments worth up to Rs 20,000 crore in this industry. The government does not want Chinese domination in such a crucial industry because it will be harmful to national security. The replies it received to its notices from well-known companies like Tata 1mg, Amazon, Flipkart, and NetMeds also didn't satisfy the authorities.
Read More: The Indian Express
Recognition [🇸🇪]
Financial Times: ePharmacy MEDS Is The Fastest Rising Swedish Firm In Europe’s 1000 Fastest Growing Companies
The Europe’s 1000 Fastest-Growing Companies by the Financial Times and Statista list includes a total of 17 Swedish companies. The Swedish ePharmacy MEDS is the highest ranked of them, coming in 71st position after achieving an average yearly sales rise of 171% in the past 4 years.
Read More: DiGITAL [article in Swedish]. Google Translate in English here.
Funding [🇪🇬]
Egypt-based ePharmacy Platform Yodawy Secured $16M in Series B Funding
Yodawy, an Egypt-based startup backed by Global Ventures, has received a $16M Series B funding. The Yodawy platform enables insurance companies and hospitals to streamline approvals, save money, and increase customer satisfaction. Additionally, Yodawy's eCommerce solution provides pharmacies with an online presence and boosts sales, which consumers may benefit from by having their Rx meds and pharmaceuticals delivered to their doorsteps. We'll have to wait and see how this new funding benefits the company.
Read More: Techcrunch
Editor’s Choice [🇬🇧]
New Door-to-door Pharmacy Delivery App in London Delivers Medications in 45 Minutes or Less
A brand-new service in London, named Healistic, claims to be able to deliver healthcare supplies or meds from your local pharmacy in as little as 45 minutes. It can even deliver Rx meds right to the patient's door. According to Healistic CEO and founder Daniel Bulkin, this would be a game changer because other ePrescription-delivery firms, like Phlo, can only give same-day delivery. The firm now only distributes OTCs, but it plans to launch a private Rx delivery service within the next six months, followed by NHS prescriptions by the end of the year.
Read More: Evening Standard
Manufacturers & Retailers Hiring Now:
Discover actively recruiting positions in the ePharmacy Industry below:
eCommerce Consultant, IQVIA [🇩🇪]
More info: LinkedIn
eCommerce Specialist, Uniphar [🇬🇧]
More info: LinkedIn
STAGE Digital Product Manager, Pierre Fabre [🇧🇪]
More info: LinkedIn
Sales Analyst - eCommerce, Sanofi [🇺🇸]
More info: LinkedIn
Omnichannel Program Manager, Astrazeneca [🇸🇪]
More info: LinkedIn
Quiz: Are you an ePharmacy Wizard?
Every week a new trivia question will be asked to you regarding general facts related to the Pharmaceutical sector!
When was Amazon pharmacy launched?
2019
2020
2021
2022
Scroll down to the end of this email to reveal the answer.
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The answer to this week’s quiz is: 2020. The company was founded on November 17, 2020, and initially provided pharmaceutical services solely in the United States.