Amazon’s early days were spent in the book-selling space but its rapid ascension as a multi-industry giant has brought strong competition.
Many businesses have had trouble keeping up, and it’s enough to make you sick.
No worries: Amazon appears ready help there, too.
With Wednesday’s news that Amazon is heading down the path toward launching physical pharmacies, convenience and quick delivery are sure to follow.
A report from Business Insider also included investor concern for CVS and Walgreen, with shares of those drugstore chain operators falling.
For now, the panic selling may be just that, since the discussions are reportedly in early stages and any effects on the industry wouldn’t likely be evident until summer 2022.
Insider reported some of those early talks centered on where the pharmacies would appear – and Amazon has a natural landing spot with its Whole Foods locations.
An Amazon spokesperson said the company does not comment on rumor or speculation but added that Amazon Pharmacy aims to provide quicker and easier at-home delivery.
A CNBC story tracked Amazon’s recent progress:
“The company has shown interest in expanding into health care over the past several years. It acquired online pharmacy PillPack in 2018. Last year, it officially entered the business with Amazon Pharmacy, another move that sent stocks of drugstore chains tumbling. With that new service, customers in most states can get prescriptions covered by many insurers and get medications delivered to their door.”
Mizuho analyst Ann Hynes said in a Reuters story that Amazon’s plan to enter the pharmacy business was nothing new, and adding stand-alone locations makes sense.
“We think Amazon’s roll-out of pharmacies will initially be focused on locations located in Whole Foods stores, similar to the Target and Walmart model,” Hynes said.