Reliance Retail looking to buy stake in Netmed- 07.05.2020

1. As per the report published in TOI, e-commerce giant Reliance Retail is trying to enter in pharmacy business by looking at buying a stake in Netmeds.

2. Netmeds last month has tied up with Reliance retail to sell their medicine from their online portal. It is reported that Netmeds was facing an issue in supplying drugs during the lockdown.

3. Netmeds.com, India Ki Pharmacy, is brought to you by the Dadha & Company – one of India’s most trusted pharmacies, with over 100 years’ experience in dispensing quality medicines. The company has started selling medicine online in 2010.

4. If Reliance retail gets successful in gaining stakes in Netmeds it will open new revenue avenues going forward.