PharmEasy's Valuation Plummets to $458 Million

• API Holdings, PharmEasy's parent company, now valued at $458 million, a 92% drop from its 2021 peak.
• Janus Henderson, a key investor, slashed its valuation by 91.8%, as per SEC filings.
• In April, PharmEasy faced a 90% valuation cut when it raised $216 million led by MEMG and existing investors.
• The company is struggling to raise Rs 3,500 crore to repay debt to Goldman Sachs, having defaulted on loan terms in June 2023.
• Adverse market conditions forced PharmEasy to defer its IPO plans, initially filed in November 2021 and pulled back in August 2022.

Source: Entrackr