• About
  • Submit Article/PR
  • Contact
Tuesday, October 3, 2023
No Result
View All Result
  • Login
The Healthcare Daily
WHO COVID DASHBOARD
  • Home
  • News
    • All
    • Biotech
    • By Speciality
    • Generic Drugs
    • Insurance
    • Investment
    • Medical Tourism
    • Pharma
    The-Revolutionizing-Power-of-Active-Pharmaceutical-Ingredients-APIs-Thehealthcaredaily

    The Revolutionizing Power of Active Pharmaceutical Ingredients (APIs)

    Strengthening-Pharmaceutical-Supply-Chain-Resilience-Fundamentals-Challenges-Solutions-and-Future-Aspects-Thehealthcaredaily

    Strengthening Pharmaceutical Supply Chain Resilience

    What-Chronic-Disease-Management-Is-All-About-How-to-Deal-with-It-Healthcare-Daily

    What Chronic Disease Management Is All About & How to Deal with It

    cancer-cure-TheHealthcareDaily

    Cancer Cure: Is there a cure for it?

    Womens-Reproductive-Rights-Around-the-world-Healthcare-Daily

    Women’s Reproductive Rights Around the World : Rights 101

    Everything-about-Telehealth-reimbursement-and-insurance-coverage-Healthcare-Daily

    Absolutely Everything about Telehealth Reimbursement and Coverage : Healthcare 101

    Everything-about-Personalized-Medicine-in-2023-Healthcare-Daily

    Everything about Personalized Medicine in 2023

    Healthcare cost containment and insurance reform

    Healthcare cost containment and insurance reform

    Understanding Chronic Diseases: Symptoms, Causes, and Treatment Options

  • Insights
    • All
    • Analysis
    • Interview
    • Opinion
    • Reports
    The UK's Expert Hospitals for Cardiac Care: Top 7 Picks- TheHealtcareDaily

    The UK’s Expert Hospitals for Cardiac Care: Top 7 Picks

    Workforce-Diversity-and-its-5-Benefits-in-healthcare-Daily

    Workforce Diversity and it’s 5 Benefits in healthcare

    Healthcare-Affordability-in-United-States-Healthcare-101-Daily

    Healthcare Affordability in United States : Healthcare 101

    The-Benefits-and-Challenges-of-Data-and-Analytics-in-Healthcare-Daily

    The Benefits and Challenges of Data and Analytics in Healthcare

    Healthcare-Industry-At-A-Glance-Healthcare-DAily

    Healthcare Industry At A Glance

    7-Reasons-Millennials-Are-The-Most-Disruptive-Generation-Yet-Healthcare-Daily

    7 Reasons Millennials Are The Most Disruptive Generation Yet

    Technological-challenges-faced-by-pharma-companies-today-Healthcare-Daily

    Technological challenges faced by Pharma Companies Today

    Senior living options in Canada

    Senior living options in Canada in 2022

    A Guide to Medical Tourism in India: Everything You Need to Know

    A Guide to Medical Tourism in India: Everything You Need to Know

  • HealthTech
    • All
    • Hardware
    • Innovation
    • Software
    The-Evolving-Landscape-of-Pharmaceutical-Thehealthcaredaily

    The Evolving Landscape of Pharmaceutical IT

    Leading-Healthcare-Cybersecurity-Firms-The-Top-thehealthcaredaily

    Leading Healthcare Cybersecurity Firms: The Best 5

    Overview-of-healthcare-hackathons-and-competitions-focused-on-healthcare-innovation-thehealthcaredaily

    Overview of healthcare hackathons and competitions focused on healthcare innovation

    Everything-about-Telehealth-reimbursement-and-insurance-coverage-Healthcare-Daily

    Absolutely Everything about Telehealth Reimbursement and Coverage : Healthcare 101

    Everything-about-Personalized-Medicine-in-2023-Healthcare-Daily

    Everything about Personalized Medicine in 2023

    5-Amazing-Advancements-in-Medical-Technology-2023-Healthcare-Daily

    5 Amazing Advancements in Medical Technology 2023

    Pros-and-Cons-of-Telemedicine-Healthcare-Daily

    Pros and Cons of Telemedicine in Healthcare 2023

    The-Benefits-and-Challenges-of-Data-and-Analytics-in-Healthcare-Daily

    The Benefits and Challenges of Data and Analytics in Healthcare

    Healthcare workforce and talent management

    Healthcare workforce and talent management

  • Pharma
  • Events
  • NewsMakers
  • World
  • Home
  • News
    • All
    • Biotech
    • By Speciality
    • Generic Drugs
    • Insurance
    • Investment
    • Medical Tourism
    • Pharma
    The-Revolutionizing-Power-of-Active-Pharmaceutical-Ingredients-APIs-Thehealthcaredaily

    The Revolutionizing Power of Active Pharmaceutical Ingredients (APIs)

    Strengthening-Pharmaceutical-Supply-Chain-Resilience-Fundamentals-Challenges-Solutions-and-Future-Aspects-Thehealthcaredaily

    Strengthening Pharmaceutical Supply Chain Resilience

    What-Chronic-Disease-Management-Is-All-About-How-to-Deal-with-It-Healthcare-Daily

    What Chronic Disease Management Is All About & How to Deal with It

    cancer-cure-TheHealthcareDaily

    Cancer Cure: Is there a cure for it?

    Womens-Reproductive-Rights-Around-the-world-Healthcare-Daily

    Women’s Reproductive Rights Around the World : Rights 101

    Everything-about-Telehealth-reimbursement-and-insurance-coverage-Healthcare-Daily

    Absolutely Everything about Telehealth Reimbursement and Coverage : Healthcare 101

    Everything-about-Personalized-Medicine-in-2023-Healthcare-Daily

    Everything about Personalized Medicine in 2023

    Healthcare cost containment and insurance reform

    Healthcare cost containment and insurance reform

    Understanding Chronic Diseases: Symptoms, Causes, and Treatment Options

  • Insights
    • All
    • Analysis
    • Interview
    • Opinion
    • Reports
    The UK's Expert Hospitals for Cardiac Care: Top 7 Picks- TheHealtcareDaily

    The UK’s Expert Hospitals for Cardiac Care: Top 7 Picks

    Workforce-Diversity-and-its-5-Benefits-in-healthcare-Daily

    Workforce Diversity and it’s 5 Benefits in healthcare

    Healthcare-Affordability-in-United-States-Healthcare-101-Daily

    Healthcare Affordability in United States : Healthcare 101

    The-Benefits-and-Challenges-of-Data-and-Analytics-in-Healthcare-Daily

    The Benefits and Challenges of Data and Analytics in Healthcare

    Healthcare-Industry-At-A-Glance-Healthcare-DAily

    Healthcare Industry At A Glance

    7-Reasons-Millennials-Are-The-Most-Disruptive-Generation-Yet-Healthcare-Daily

    7 Reasons Millennials Are The Most Disruptive Generation Yet

    Technological-challenges-faced-by-pharma-companies-today-Healthcare-Daily

    Technological challenges faced by Pharma Companies Today

    Senior living options in Canada

    Senior living options in Canada in 2022

    A Guide to Medical Tourism in India: Everything You Need to Know

    A Guide to Medical Tourism in India: Everything You Need to Know

  • HealthTech
    • All
    • Hardware
    • Innovation
    • Software
    The-Evolving-Landscape-of-Pharmaceutical-Thehealthcaredaily

    The Evolving Landscape of Pharmaceutical IT

    Leading-Healthcare-Cybersecurity-Firms-The-Top-thehealthcaredaily

    Leading Healthcare Cybersecurity Firms: The Best 5

    Overview-of-healthcare-hackathons-and-competitions-focused-on-healthcare-innovation-thehealthcaredaily

    Overview of healthcare hackathons and competitions focused on healthcare innovation

    Everything-about-Telehealth-reimbursement-and-insurance-coverage-Healthcare-Daily

    Absolutely Everything about Telehealth Reimbursement and Coverage : Healthcare 101

    Everything-about-Personalized-Medicine-in-2023-Healthcare-Daily

    Everything about Personalized Medicine in 2023

    5-Amazing-Advancements-in-Medical-Technology-2023-Healthcare-Daily

    5 Amazing Advancements in Medical Technology 2023

    Pros-and-Cons-of-Telemedicine-Healthcare-Daily

    Pros and Cons of Telemedicine in Healthcare 2023

    The-Benefits-and-Challenges-of-Data-and-Analytics-in-Healthcare-Daily

    The Benefits and Challenges of Data and Analytics in Healthcare

    Healthcare workforce and talent management

    Healthcare workforce and talent management

  • Pharma
  • Events
  • NewsMakers
  • World
No Result
View All Result
The Healthcare Daily
No Result
View All Result

Tata to acquire majority stake in online pharmacy firm 1mg

Tata's Reliance aspires to compete with Amazon that also plans to invest in the expanding e-pharmacy sector

by Deepshi Chowdhury
November 6, 2020
in Business, Collaboration, Drug, Health, Investment, Medical Tourism, News, Pharma
Reading Time: 2 mins read
0
Tata to acquire majority stake in online pharmacy firm 1mg
0
SHARES
Share on FacebookShare on Twitter
    • Tata Groups allegedly in talks with online e-pharmacy firm 1mg
    • Tata’s Reliance is also in the negotiations with e-grocery, BigBasket store to increase its digital presence.
    • In the wake of Covid pandemic, India’s online pharmacy firms have witnessed tremendous growth.

    THD NewsDesk, New Delhi: All set to revolutionise India’s pioneering e-pharmacy sector, the Tata group plans to secure a majority stake in online pharmacy 1mg. According to Economic Times reports, the Tata conglomerate, lured by the profits in the online pharmacy sector owing to the Covid pandemic, desires to benefit from its growth. 

    “The talks have been ongoing as Tatas look to build their super-app platform. The Tata group’s strategy is to pick up controlling stake but keep the management to run the operation…,” said an anonymous person in close contact with the business groups. Unfortunately, no confirmed statement has been released by either the Tata or 1mg cofounder at the moment.

    Backed by the Sequoia Capital, 1mg plans to raise around $100 million though there is a possibility that the funding may not come through. 

    As told the Economic Times,

    “With heavyweights like Reliance and Amazon coming into the sector, independent players will find it hard to sustain themselves. They will need to align with one of the bigger groups…”.

    Currently, Tata’s Reliance is in a bid to compete with the world’s largest online retailer, Amazon that also plans to invest in the expanding e-pharmacy sector. Amazon has already launched its prescription drug delivery service in Bengaluru with Cloudtail, in which it has a 24% stake.

    Aspiring to increase its digital presence, the Tata group is also in talks with India’s largest e-grocery BigBasket. Rumoredly, the Tatas are planning to invest a whopping $1 billion to secure a 50-50 ownership stake.

    Out of the many strategic investments in India’s online pharmacy sector, The Gurugram-based 1mg, Pharmeasy, Netmeds and Medlife top the list. The others being Mumbai-based Pharmeasy backed by Temasek and CDPQ and Orios Venture Partners merging with Medlife.

    The mergers in the pipeline may expand the services of these online pharmacies by offering online lab testing, doctor consultations, and even insurance claims management services. Moreover, substantial business houses also aim to create a portfolio of products in the nutrition and supplements category. 

    Though the initial period of lockdown was a tough one for e-pharmacy firms, the months following the dip in sales witnessed a tremendous increase in sales. During the pandemic, e-pharmacies made inroads into about 9 million households in the country due to the lockdown, according to the Frost & Sullivan statistics. 

    Source: ET Healthworld

Deepshi Chowdhury

Deepshi Chowdhury

Deepshi is a History majors student at LSR. She harbors a penchant for expressing her opinions on socio-political issues and strives to grow as a learner, writer and an artist.

Next Post
Statewide Covid immunisation drive to start in Maharashtra

Statewide Covid immunisation drive to start in Maharashtra

Recommended

Single Dose of Johnson & Johnson COVID-19 Vaccine Candidate Demonstrates Robust Protection in Pre-clinical Studies

3 years ago
IEC campaign launched by the Health Minister to restrain the infodemic

IEC campaign launched by the Health Minister to restrain the infodemic

3 years ago

About Us

A daily dose of news, views, opinions, and actionable information from the global healthcare industry. Our newsletter is available for a limited audience. If you are interested to write or contribute to this portal then please get in touch.

Important Links

  • Home
  • World
  • Business
  • Health

Recent News

Deadly Deception or Medical Reality- Disease X? Unmasking the Hunt for a Pandemic Deadlier Than COVID-19

The Gut-Brain Connection: Unveiling the Link Between Digestion and Mental Health

  • About
  • Submit Article/PR
  • Contact

© 2020 - The Healthcare Daily

No Result
View All Result
  • Home
  • World
  • Business
  • Health

© 2020 - The Healthcare Daily

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In