Whole Foods acquisition could move Amazon closer to pharmacies


Amazon's $13.7 billion acquisition of Whole Foods may help the company enter the pharmacy market, experts told CNBC.

Whole Foods "creates an entry point to drug delivery" and provides the online retailer with necessary real estate, according to a Morgan Stanley analysis reported by CNBC.

Amazon is reportedly hiring a pharmaceutical business team to help navigate the complex market and regulations, CNBC reported in May. The company already sells prescription drugs on its Japanese site.

On June 16, when Amazon acquired the 450 Whole Foods retail locations, CVS and Walgreens pharmacy stocks fell 4 percent, CNBC reports.

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