RIL said that its retail unit has acquired a majority equity stake in online pharma company Netmeds for around Rs 620 crore, directly taking on Amazon which forayed into the the e-pharmacy business last week. The oil-to-retail conglomerate said Reliance Retail Ventures has acquired a majority stake in Vitalic Health Pvt. Ltd and its subsidiaries — collectively known as Netmeds — for a cash consideration of around Rs 620 crore.

(Economic Times)