Profit and Loss Margin in Online Pharmacy

Retail Pharmacy Chain, eCommerce & Health Management Websites are common in the pharmaceutical industry nowadays. It’s beneficial in certain aspects of the industry but, at the same times has its own cons.

What is Online Pharmacy?

An online pharmacy is a pharmacy that works over the World Wide Web. It aims at marketing and selling the pharmaceutical products online. The pharmacy sends the orders to their customers at home via shipping companies or courier agencies. The online pharmacy must be licensed and should follow all the medical laws of that particular country. It’s a customer friendly process as they can buy the drugs online at the ease of their home.

Online pharmacy is more like online medicine shop. The crucial person in an online pharmacy is the Pharmacy benefit manager. He/she is a large administrator of corporate prescription drug plans. The manager looks after the medicines that are prescribed more by the physician and are more in demand.

There are some risks with the online medicine shopping as well. The Online medical stores must follow the medical regimens like not selling expired medicines or any counterfeit medication that is against normal safety measures. In some cases, the online pharmacy may do a fraud by claiming to be from a different country than from its original location. Sometimes, children or teenagers may purchase controlled substances without adult supervision. The other risk is a lack of confidentiality, rough packaging, and undesirable drug interactions.

Online Pharmacy in India

Online medical shopping in India has considerably increased due to growing E-commerce. In India, there is no regulatory control over the medicine advertisement on the Internet so making a good online medicine market. Even the Indian market is coming out with several e-health portals which make the online medical shopping more demanding.

As such, there is no law for online pharmacy in India but, although multiple laws govern them indirectly. Drugs and Cosmetics Act and Drugs and Cosmetics Rules have made specific rules for the Schedule H and X drugs. H and X drugs can be sold only on showed prescriptions. A new law of 2015 says valid prescriptions are a must for purchasing scheduled drugs. A scanned or a soft copy of the prescription may also be accepted to buy medicine from online pharmacies or offline pharmacies.

Profit in online medicine shopping

Online medicine shopping is satisfying and comforting for both the seller and the customer. It benefits the seller as they need not have a medical shop with a large number of work force. This cuts down their financial cost. But, at the same time, online pharmacy requires a lot of promotion to let people know about their site. The only disadvantage is people who are uneducated can’t be their customers. This happens to lose a lot of customers.

For the consumers, online pharmacy is the best comforting way to buy medicines. They can do it from home, in the car, in the office or anywhere else. This way the consumers can save their travel time and energy. However, the customers should be careful while purchasing drugs online regarding their names, dosage amounts and branding.

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