Apollo Hospitals in advanced talks to acquire Hetero Pharmacy.

Apollo Hospitals Enterprise Ltd., which runs the country's largest hospital and pharmacy chains, is in advanced talks to buy Hyderabad-based retail pharmacy chain Hetero Pharmacy, two people with knowledge of development said.

If it goes through, the deal could fetch Hetero Pharmacy around Rs. 300 crore. Apollo operates 1,632 pharmacy stores across the country, while Hetero Pharmacy owns 250 outlets spread across Andhra Pradesh, Telangana and Tamil Nadu. 'Apollo is looking at aggressively adding more stores both through organic and inorganic routes,' one of the people quoted above said.

The other person said due diligence exercise is currently on. 'The deal, which could be valued at around Rs. 300 crore, would help Apollo consolidate its pharmacy business and augment profitability,' this person said.

ET