Friday, 24 March, 2023

PharmEasy gives employees $3M ESOPs buyback option

<p>Pharmeasy, online pharmacy, will be buying back ESOPs worth $3 mn to instil confidence among employees in COVID-19 pandemic and amid entry of giants like Reliance Industries and Amazon. The move will benefit 40-45 early employees. Pharmeasy was valued at around $700 mn when it raised $220 mn, led by Temasek last year. It has also entered into an agreement to acquire smaller rival Medlife in return for a 20% stake, a deal that the CCI has approved.</p>