Amazon Reportedly Will Sell Prescription Drugs Soon

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These days, you can get anything on Amazon. This is what makes them number one in online sales in America, beating out Apple and Wal-Mart. The executives of the company have reportedly decided to expand into a new market: prescription drugs.

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Amazon management is not afraid to expand into a new sector. In fact, they just moved into the food business by purchasing the Whole Foods Market chain. The online sales giant began by immediately cutting prices at the grocery store, to better compete with local grocery stores. They may plan to turn this business-savvy towards the drug market.

Nothing is finalized yet, but a leaked e-mail suggests that the management is eyeing the $560 billion drug market. Although the rewards are huge, it is not easy for any company to sell medicine, as there are many regulatory guidelines and restrictions to consider.

Amazon also has to compete with existing pharmacies. It seems that people think they may do quite well in that realm, as the stock prices of CVS, Walgreens, and Rite Aid all dropped when the news about Amazon’s potential plans came out.

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Goldman Sachs analyzed how Amazon might get the competitive edge in a market filled with competition. Their analysis indicates that the e-commerce giant will be able to reduce out-of-pocket costs for consumers, as well as provide a higher level of price transparency compared to what is available now.

Amazon is familiar with healthcare already, as they sell medical products. They also have a department called 1492, which is somewhat secretive and is looking into analyzing health data.

Amazon also is working with a company called Grail, which does gene sequencing, and needs Amazon’s help to store the vast data that comes with such an endeavor.

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Soon enough, you might be able to speak to Alexa through Amazon Echo to get drug refills delivered right to your door.

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