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Amazon Might Be Joining The Prescription Drug Market

Amazon is considering entering the prescription drug market.

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Credit: James Martin / CNET

The online shopping giant Amazon is considering entering the ring with CVS and Walgreens for a piece of the prescription drug market, a report suggests.

Although the company has yet to finalize its decision, Amazon is expected to provide an update by Thanksgiving, according to CNBC.

Amazon will be adding drug supply chain experts and initiating research over the next few years, if it decides to move forward with selling prescription drugs online.

“Analyst firm Leerink has separately reported that Amazon will get into the pharmacy management space and expects an announcement within the next year or two,” CNBC reported.

Back in August, a similar report surfaced by Goldman Sachs hinting that Amazon may be eyeing the health care industry, with a desire to provide lower out-of-pocket costs and more transparent prices.

The US prescription drug market is estimated to be worth around $560 billion per year, analysts say.

Amazon nor its CEO, Jeff Bezos, has commented on the report.

Jose Florez is the founder of Mental Daily. His work has appeared in Psychology Today, Glamour, The Huffington Post, among others. He is a mental health advocate, and currently studying psychology.

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