Whole Foods acquisition could move Amazon closer to pharmacies

Julie Spitzer - Print  | 

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.

More articles on supply chain:

Drug manufacturer, distributor shut down for producing unapproved medications 

EpiPen competitor earns FDA approval: 5 things to know

AMA outlines drug pricing stance at annual meeting

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.