Tags: amazon | selling | prescription | drugs

Amazon Selling Prescription Drugs Predicted by Analysts

Image: Amazon Selling Prescription Drugs Predicted by Analysts

(Kguzel/Dreamstime)

By    |   Tuesday, 10 October 2017 12:02 PM

Amazon is expected to start selling prescription drugs, experts of a health care industry investment firm say, according to CNN.

This is according to a report released by two analysts at Leerink who believe the e-commerce giant will "almost certainly" begin trading in the prescription drug business within the next two years.

Since news of this broke, CNN reported a drop of nearly 5 percent in shares for both the CVS and Walgreen drugstore chains, and a drop of more than 2.5 percent in shares for Express Scripts (ESRX), a pharmacy benefit management company.

Drugstore stocks continued to plummet on Monday, with CVS and Walgreen suffering a further 3 percent drop and Express Scripts shares falling by 5 percent.

In the report, one of the Leerink analysts, Ana Gupte, said Amazon cold pose a "meaningful competitive threat to existing players," per CNN.

The other Leerink analyst, David Larsen, noted that Amazon could "create a 'prime drug discount program' ... where some members could choose to purchase their pharmacy benefit through Amazon, not their employer."

Amazon has not commented on these current projections however, a source told CNBC that the company will decide before Thanksgiving whether it would make the move to sell prescription drugs online.

This was confirmed in an email from Amazon and viewed by CNBC.

News of Amazon's possible move into the pharmaceutical business comes days after the retail firm shook up the delivery industry with reports that it may start making its own deliveries.

This caused a drop in shares for delivery companies last week, CNBC noted.

However, Amazon dismissed these reports, telling CNN in an email that "we are using the same carrier partners to offer this program that we've used for years, including UPS, USPS and FedEx."

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
TheWire
Amazon is expected to start selling prescription drugs, experts of a health care industry investment firm say, according to CNN.
amazon, selling, prescription, drugs
294
2017-02-10
Tuesday, 10 October 2017 12:02 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved