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Apollo’s $3.2bn pharmacy arm selling stake after spin off

Apollo Hospitals, India's largest hospital group by revenue, has spun off its pharmacy and digital business into a new subsidiary and appointed banks to sell a 15-20% stake. Amazon was considering a $100m stake in the division at the end of last year as India's online pharmacy sector continues to see a glut of investment with rival PharmEasy also targeting a $9bn IPO.

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