Amazon is looking to get into the pharmacy industry. Reports show it may open physical pharmacies in the United States soon.
According to The New York Post, CVS and Walgreens shares started going down this past week, as growing the conglomerate Amazon is reportedly moving to open brick and mortar pharmacies in the country. Sources say the idea for storefront Amazon pharmacies is in its early beginnings, but Insider reports the rollout of the stores could take a little over a year. When they arrive, the stores may be located inside Amazon-owned Whole Foods.
“We think Amazon’s roll-out of pharmacies will initially be focused on locations located in Whole Foods stores, similar to the Target and Walmart model,” said Mizuho analyst Ann Hynes.
The company currently delivers prescription medications to consumers, a service Amazon launched back in November. As of Wednesday, CVS, Walgreens, and Rite Aid were all down between 1 percent and 3 percent, The New York Post reports.
At this time, the company says it’s focused on the care and happiness of its companies, saying it does not comment on rumors.
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