More and more, it’s looking as though e-commerce giant, Amazon, has strong intentions of getting into the pharmaceutical drug industry as it continues to obtain approval for wholesale distributorship of pharmaceuticals in a mounting number of states. How will this impact the pharmaceutical industry?
According to recent reports, Amazon would need a pharmacy license to sell medical devices or prescription drugs directly to consumers, so it remains unclear what the company’s intentions are. So far, Amazon has received approval from a dozen states for wholesale distributorship, including Michigan, New Jersey, Arizona, North Dakota, Alabama, Idaho, Oregon, Tennessee, Connecticut, Nevada, Louisiana, and New Hampshire. Currently, there is an application pending in Maine as well.
While Amazon declines commenting on the speculation, the company currently sells professional-use medical devices via its health care product portal. The wholesale pharmacy licenses aren’t proof that the online retail giant intends to sell prescription drugs, however the rumors have impacted stocks of the biggest players in the pharmaceutical supply chain, including Walgreens, CVS, Express Scripts, and drug wholesalers McKesson, Cardinal Health, and Amerisource Bergen, who were especially hard hit.
Earlier in October CNBC reported that it’s expected Amazon will make a decision regarding its entrance into the prescription drug business by Thanksgiving.
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