Thursday, October 26, 2017
AMAZON FOOTPRINT GETS LARGER--WHOLESALE PHARMACY
October 26, 2017 / 3:33 PM / Updated 3 hours ago
(Reuters) - Amazon.com Inc has gained approval from a number of state pharmaceutical boards to become a wholesale distributor, St. Louis Post-Dispatch reported on Thursday, citing public records.
The news send the shares of U.S. pharmacy chains, drug wholesalers and pharmacy benefit manager Express Scripts down.
An Amazon spokesperson said it doesn’t comment on rumors or speculation.
Earlier this month, a source-based report by CNBC said Amazon would decide before Thanksgiving whether to move into selling prescription drugs online.
The ecommerce giant is reported to be in talks with mid-market pharmacy benefit managers and has been hiring talent to assess the drug retailing market for its entry, brokerage firm Leerink had said.
Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur