Amazon reportedly is considering delving deeper into the prescription drug business by either opening standalone retail pharmacies or adding pharmacies to its Whole Foods stores, Business Insider reported.
The discussions are still in the exploratory stage, and if the company decides to move forward, it could take more than a year for it to start opening pharmacies, according to the article.
An Amazon spokesperson told Becker’s Hospital Review that it doesn’t “comment on rumor or speculation,” saying: “Amazon Pharmacy is focused on making at-home delivery pharmacy easier and more convenient for customers.”
Amazon acquired online pharmacy PillPack in 2018 and last year launched Amazon Pharmacy.
Shares of CVS, Walgreens and Rite Aid fell following the Business Insider report, CNBC reported. CVS shares were down about 3 percent; Walgreens shares were down almost 4 percent; and Rite Aid shares were down more than 4 percent.
Read the full Business Insider report here.
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