Cipla denies plans to partner with Medlife online pharmacy business
ndian drug maker Cipla has clarified through a letter to the All India Organisation of Chemists and Druggists (AIOCD) that it has no plans to venture into e-pharmacy business in partnership with online pharmacy Medlife.
There were several media reports doing the rounds that Cipla was in discussions with online pharmacy player Medlife to invest Rs. 150 crore in an online pharmacy start-up.
Based on the news reports about the Cipla-Medlife deal, AIOCD had threatened not to buy drugs manufactured by Cipla if the latter decided to go ahead with the deal.
Cipla in a letter to AIOCD stated, "We understand that there are some unconfirmed media reports in the market related to Cipla partnering with an e-pharmacy company. These media reports are unsubstantiated and there is no truth in the matter.