Amazon is reportedly organizing an attempt to delve into the multi-billion dollar prescription drug industry, according to multiple reports published Friday.
The tech conglomerate is expected to decide if it will fully enter the market of selling prescription drugs online by Thanksgiving, reports CNBC.
Amazon has prepared by obtaining ample amounts of consultation as well as conducting its own research. It already sells certain medical supplies and devices online, but such a business decision would be a big move into an industry with well-established and powerful players like Walgreens, CVS, and Rite Aid. When reports of Amazon’s intentions first arose Friday, those drug retailers stocks started to dip, according to Reuters.
The move is further proof of Amazon’s growing power. (RELATED: Amazon, Facebook Are Now Trying To Take Over The Pizza Ordering Business)
Once a relatively simple e-commerce service, Amazon has grown into a company with a stake in several industries, like cloud computing technology, film and show production, both brick and mortar and delivery services for groceries, and electronics, like tablets and smart speakers.
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