Corporate Updates

Apollo Hospitals to hive off pharma retailing into separate company

Apollo Hospitals Enterprise Ltd intends to spin off its pharma retailing business into a separate company, though not immediately. At present, the company has 642 pharmacies across the country and the plan is to raise this number to 1,000 by February next year, according to Ms Shobhana Kamineni, Director, Apollo Hospitals, who looks after pharma retailing. “We are opening pharmacies at the rate of one a day,” Ms Kamineni told Business Line on Wednesday, adding that she would like to see 10,000 Apollo pharmacies across the country eventually. “India has six lakh pharma outlets. This 1,000 does not mean anything,” she said, putting the plans in context. Asked if Apollo would take a strategic partner on board when the pharma retailing becomes a separate company, she said, “if it adds value, why not?” At present, all the outlets are run by Apollo itself

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