news 
PharmEasy’s $5.6 billion value shrinks to $456 million, investor data shows
Indian online pharmacy PharmEasy has seen a significant drop in its valuation, according to disclosures from its investor Janus Henderson. The firm’s valuation now stands at approximately $456 million, a staggering 92% decline from its previous peak valuation of $5.6 billion.
Janus Henderson’s Global Research Fund values its holding of 12.9 million shares in PharmEasy at $766,043, according to its latest filing for the period ending September. This comes despite PharmEasy securing over $200 million in fresh capital earlier this year and preparing to file an initial public offering next year.
The development is a stark contrast to the company’s previous financial performance. In 2021, PharmEasy had acquired diagnostic lab chain Thyrocare for around $600 million. However, it has since faced significant financial challenges, including deferring a planned IPO in November 2021 and subsequently turning to debt financing, which proved problematic as the company struggled with repayment and raising new equity in a deteriorating market.
PharmEasy’s latest valuation is significantly lower than the amount it paid for Thyrocare. The startup has raised over $1 billion to date, indicating the severity of its financial issues.
Source: techcrunch.com
