<img src="https://trc.taboola.com/1321591/log/3/unip?en=page_view" width="0" height="0" style="display:none">
Fact Check Library

Fact Check with Logically.

Download the Free App Today

true
true

CLAIM ID

1b4784a3

Reliance Industries Ltd is expanding its business in the pharma sector.

In the fourth quarter of 2021, Reliance Industries launched 114 pharmacy outlets and engaged in customer interaction activities to widen its horizons.

In the fourth quarter of 2021, Reliance Industries launched 114 pharmacy outlets and engaged in customer interaction activities to widen its horizons.In a press release on August 18, 2020, Reliance Industries Ltd (RIL) announced that its subsidiary Reliance Retail Ventures Ltd (RRVL) had purchased a majority ownership share in Vitalic Health Pvt. Ltd. and its subsidiaries, together known as 'Netmeds.'

Vitalic and its subsidiaries started their pharma distribution, sales, and business support services in 2015. Reuters reports that Netmeds forecast would grow by 250 billion rupees by 2022 as per the consultancy Frost and Sullivan.

The cash payment of about 620 crores constitutes a 60 percent stake in Vitalic's equity share capital. It also included 100 percent direct equity ownership of the company's subsidiaries, Tresara Health Private Ltd, Netmeds Market Place Ltd, and Dadha Pharma Distribution Pvt Ltd.

"This investment is aligned with our commitment to provide digital access for everyone in India," said Ms. Isha Ambani, Director, RRVL. She added the inclusion of Netmeds strengthens Reliance Retail's ability to supply high-quality, low-cost healthcare products and services and expands its digital commerce offering to meet most consumers' daily critical requirements.

On April 30, 2021, RIL announced its development in the pharmaceutical business in the fourth quarter of 2021 through the opening of 114 pharmacies. The company engages clients with effective consumer outreach programs such as health camps, social interactions, and door-to-door marketing to expand its reach. Netmeds' pan-India marketing promotion has also helped the firm's website traffic increase by over 25 percent quarter-on-quarter, according to the company.

Have a question or correction on one of our fact-checks?

If you think a claim has been misjudged or requires correction, please send us evidence to support your error claim. We will revisit our evidence and verdict and conduct additional research to verify new information.

Fact Check of the Day

misleading

397 children were diagnosed with heart inflammation after receiving Pfizer’s COVID-19 vaccine in U.S.