Reuters was first to report that Indian drug and medical services startup PharmEasy is in talks with investors to raise $200 million, but at a valuation that could be 15% or even 25% lower than last year’s $5.1 billion. Indian startups have been jolted by uncertain global and domestic stock markets and growing investor skepticism over what they say are sky-high valuations, making it difficult for PharmEasy to raise funds at same or a higher valuation.