Cipla is looking to invest Rs 150-170 crore in online healthcare platform Medlife, The Times of India reported on Friday.
The talks are in advanced stage and final contours of the transaction are still being finalised, the report said citing three people familiar with the matter.
Cipla declined to comment on the matter when reached out by the newspaper, while Medlife CEO Tushar Kumar denied any such talks with Cipla.
Among the online pharma startups like 1MG, NetMeds and PharmEasy, Medlife is one of the largest players in terms of sales of Rs 1,000-1,200 crore annually, the report said. – CNBC TV18