For Its Next Act, Amazon Eyeing the Online Pharmacy Market
Pharmaceuticals could be a multibillion dollar market opportunity for the e-commerce giant.
For its next act, Amazon could make drug stores disappear.
The e-commerce giant wants to hire someone to determine if the company should enter the pharmaceutical industry. Amazon has entertained the idea for the last several years, but high-deductibles and consumer-driven health plans make the move more enticing than before.
While the decision is not set in stone, the company is rumored to be increasingly recruiting from the drug sector. Selling prescriptions online could be a $25–$50 billion market opportunity for Amazon, CNBC reports.
This move wouldn’t be that big of a stretch for Amazon. The company recently started to sell medical supplies and equipment to American customers. And in Japan, it already partners with local drug stores to incorporate medications and cosmetics into its Prime Now delivery service. Amazon’s known for testing products and services in other markets before rolling them out in the U.S. For instance, its drone delivery program was first tested in Canada.
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