Apollo intends to foray into pharmaceuticals

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Apollo intends to foray into pharmaceuticals

Apollo Hospitals group will, at some point in time in the future, get into manufacture or research of pharmaceuticals, the group’s Chairman, Dr Pratap Reddy, told Business Line today.

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Chennai, June 5

Apollo Hospitals group will, at some point in time in the future, get into manufacture or research of pharmaceuticals, the group's Chairman, Dr Pratap Reddy, told Business Line today.

"We are in the healthcare business, we should be in pharmaceuticals too," Dr Reddy said, adding that he would like Apollo to get into pharmaceutical research.

"We deliberated on this question about six months ago," he said, adding that it was, however, decided that Apollo's resources were more needed in expansion of hospitals. Answering a question, Dr Reddy admitted that the group had been interested in taking over Orchid Pharmaceuticals , but said that he would not join a race.

Dr Reddy, however, stressed that the group had no immediate plans of getting into pharmaceuticals.

Apollo today formally signed an agreement with Ericsson India for technology or providing telemedicine over the mobile telephone network. The agreement was inked by Dr K Ganapathy, President, Apollo Telemedicine Networking Foundation and Mr P Balaji, Vice President - Marketing & Strategy, Ericsson India Pvt Ltd.

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