Amazon has changed the face of how Americans (and the world) shop, interact with the web, and even consume media. Now, the tech and e-commerce titan may be looking to get into the challenging health care market with a play for the pharmacy industry.
CNBC reported late Tuesday that Jeff Bezos’s multifaceted company has been taking on pharmaceutical talent. That includes both the hiring of a general manager to lead a potential unit and other prospects from the pharmacy sector, according to sources. Coins2Day has reached out to Amazon and will update this post if we receive a response, although the company has declined to comment to other outlets.
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Shares of potential rivals in the retail pharmacy space reacted on Wednesday. Both CVS Health and Walgreens were down more than 3% in afternoon trading.
But while a formidable operation like Amazon’s could spook any rivals (and their investors), getting into the industry won’t exactly be easy. Drug distribution is far more challenging and susceptible to regulatory headaches than shipping most standard commercial goods.
That’s part of the reason some analysts say it’s too early to tell whether or not Amazon will really plunge into this business—the new hirings could simply signal a pilot program which may not last. Still, Amazon muscling into the complex and increasingly consolidated pharmacy market could reshape yet another field.