FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid.
BENGALURU -Amazon.com Inc is considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, facing up to Reliance Industries Ltd and Tata Group in the country's fast-growing drug market, the Economic Times reported on Wednesday, citing two people aware of the plans. Amazon 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.Both Amazon and Apollo Hospitals, which owns Apollo Pharmacy, declined to comment.
The growth of e-pharmacies, however, has left many Indian trader groups feeling threatened, who say online drugstores can contribute to medicine sales without proper verification and the entry of large players can cause unemployment in the sector. Amazon’s plan to further expand in India also comes close on the heels of its launch of an online pharmacy to deliver prescription drugs in the United States, increasing competition with drug retailers such as Walgreens, CVS Health and Walmart.
Somebody please save INDIA from Amazon or it would be too late.😱😱😱
So you want to be a drug dealer?
Now they are going to ruin pharmacys
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon eyes $100 million investment in pharmacy chain: Report - Business InsiderAmazon is reportedly eyeing a $100 million investment in the Apollo Pharmacy chain, further expanding its healthcare plans 🧐
Source: BusinessInsider - 🏆 729. / 51 Read more »