Amazon Might Be Getting Into the Pharmacy Business
By Brittany Burhop Fallon, Beauty Director |
You shop on Amazon for everything from household goods and electronics to clothes and beauty products, and with the e-giant's recent acquisition of Whole Foods, you can also buy groceries. But what if you could also buy your prescription medications on Amazon? Talk about a one-stop-shop.
According to CNBC, Amazon is now wrapping up its strategy for entering the multibillion-dollar U.S. prescription drug market (analysts have estimated it at $560 billion per year). The company will make a final decision before the Thanksgiving holiday, and if the plan is a go, it will begin expansion quickly.
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Amazon has declined to comment, but there has been speculation about this mega industry move for a while. As CNBC reports, Goldman Sachs published a report on the topic in August of this year, speculating that Amazon will ultimately look to improve price transparency for consumers and reduce out-of-pocket costs.
So what do you think? Is Amazon headed for global domination? The company sure does know how to make our lives easier, but pharmaceuticals can be tricky. Looks like we'll have to wait and see. Stay tuned to NewBeauty.com for updates!