Amazon.com Takes Aim at Drug Prices

Amazon.com Takes Aim at Drug Prices

Goliath Internet retailer Amazon.com (NASDAQ: AMZN) may have taken another step toward disrupting the pharmacy market. According to reports, Amazon has obtained pharmacy wholesale licenses in multiple states. The news shook pharmacy retailers such as CVS Health (NYSE: CVS), and drug distributors like McKesson Corp. (NYSE: MCK). Will we all be getting our next prescriptions filled by Amazon.com?

Amazon has been flirting with pharmacy retail for a long time. Founder Jeff Bezos was a former board member of the now-defunct online pharmacy retailer Drugs.com, and Amazon itself was once a 40% owner of Drugstore.com. Ultimately, Drugstore.com was a failed attempt at shaking up pharmacy distribution, but lessons learned could be shaping the second attempt.

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Source: Fool.com