Saturday, 1 July, 2023

Tatas may pick up majority stake in e-pharmacy firm 1mg

<p>The Tata group is in talks to acquire a majority stake in online pharmacy 1mg. The deal, if goes through, could intensify the battle in India&rsquo;s e-pharmacy sector, as Tata, Reliance and Amazon are battling for a piece of the pie. In Aug, Reliance Retail acquired a 60% stake in the parent company of Netmeds. Amazon also rolled out prescription drug delivery service in Bengaluru in partnership with Cloudtail. 1mg, as per reports, has been in talks to raise around $100 mn.</p>