BENGALURU: India’s Reliance Industries Ltd has bought a majority stake in online pharmacy Netmeds for 6.2 billion rupees (US$83mil), facing up to Amazon.com in the competition for the country’s fast-expanding online drug market.
The deal will give the oil-to-telecoms conglomerate a 60% stake in Netmeds, which sells both over-the-counter medication and more than 70,000 prescriptions drugs, Reliance said late on Tuesday.
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