Amazon Considers Potential $100 Million Investment in Indian Pharmacy Chain, Apollo Pharmacy

New Delhi, December 9: The US e-commerce giant, Amazon.com Inc is considering to make an investment worth nearly $100 Million in the Indian pharmacy chain, Apollo Pharmacy. Following the steps of Reliance Industries Ltd and the Tata Group, Amazon plans to enter and expand business in Indian pharmacy sector, as per a report in the Economic Times. Amazon Accuses Future Group of Insider Trading; Asks SEBI to Review the Reliance-Future Group Deal.

The e-commerce giant already delivers medicines in India through its online platform. This potential investment in Apollo Pharmacy would come amid increasing competition from Mukesh Ambani-led Reliance who has entered the e-pharmacy sector with securing a majority stake in the online pharmacy Netmeds. According to the report, the Tata Group is in talks to buy a majority stake in the e-pharmacy firm 1mg. Amazon India Small Business Day Sale 2020 to Begin on December 12, 2020.

However, many Indian pharmacists and chemist shop owners feel threatened by the growth in the e-pharmacy sector, adding that online drugstores can contribute to medicine sales without proper verification. They also worry that the entry of big retail players in the sector might cause unemployment and loss of jobs in the sector.

Amazon is all set to launch an online pharmacy store to deliver prescription drugs in the USA, providing competition to drug retailers including Walgreens, CVS Health and Walmart among others in the states. Its potential investment in the Apollo Pharmacy in India comes on this backdrop.

(The above story first appeared on LatestLY on Dec 09, 2020 12:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).