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Amazon eyes $100 million investment in pharmacy chain: Report - Business Insider

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Amazon is reportedly eyeing a $100 million investment in the Apollo Pharmacy chain, further expanding its healthcare plans

service in the US November 17, allowing people to buy prescription drugs through its website.

The potential investment would come amid competition in India from Mukesh Ambani's Reliance, which recently bought a majority stake in online pharmacy Netmeds. Indian trader groups say online drugstores can contribute to medicine sales without proper verification.Amazon is reportedly considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, close on the heels of its launch of an online pharmacy to deliver prescription drugs in the US.

The company is looking to face up to Reliance Industries Ltd and Tata Group in India's fast-growing drug market, the Economic TimesAmazon already delivers medicines in India and the potential investment would come amid rising competition from Mukesh Ambani's Reliance, which bought a majority stake in online pharmacy Netmeds.The growth of e-pharmacies has left many Indian trader groups feeling threatened.

 

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