E-pharmacy companies PharmEasy and Medlife have sought approval of the Competition Commission of India (CCI) for a potential merger.
As per the CCI filing, PharmEasy looks to acquire 100 percent equity shares of Medlife. Medlife and its promoters will get 19.59 percent of the equity share capital of PharmEasy's parent company API Holdings.
PharmEasy co-founder Dharmil Sheth and Medlife chief executive officer Anant Narayan did not share comments on CNBC TV 18's queries. "It is submitted that the proposed transaction does not give rise to any appreciable adverse effect on competition in India regardless of the delineation of the relevant market for the purpose of this filing," the parties said in their application.
"The parties have carefully reviewed their commercial operations, and identified a limited number of similar and substitutable products which are provided by them in India.," they said.
Both players have identified the following overlapping relevant product markets as per the filing: (a) the market for the wholesale sale and distribution of drugs in India; (b) the market for the provision of consultation services by RMPs in India; (c) the market for calcium preparations in India; (d) the market for ayurvedic products in India; (e) the market for hygiene products in India; (f) the market for vitamins, minerals and nutrients in India; and (g) the market for respiratory protective devices in India.
First Published: Aug 18, 2020 11:14 PM IST
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