Is Amazon Becoming a Healthcare Company?
For several years, Amazon (NASDAQ: AMZN) has been making deliberate moves into healthcare. Consumers can now buy products on Amazon.com using their flexible spending account (FSA), go to Amazon Pharmacy for online prescription ordering and delivery, use Alexa to get medication reminders, and streamline packaging for multiple prescriptions using PillPack.
In late May, Insider published a story that Amazon was considering opening retail pharmacies in Whole Foods grocery stores. Within minutes, investor reaction erased more than $6 billion from the market caps of Amazon's pharmacy competitors; CVS, Rite Aid, and Walgreens stock declined by 3% to 4%. Many analysts consider the drop to have been a market overreaction, but such is the power of Amazon putting whole industries in its sights.
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Source Fool.com
