Amazon shelves plans to sell, distribute drugs to hospitals - CNBC
Amazon.com Inc has shelved plans to sell and distribute pharmaceutical products to hospitals, CNBC reported on Monday, citing sources familiar with the matter.
The change in plan comes partly because Amazon has not been able to convince big hospitals to change their traditional purchasing process, the report said.
Amazon did not immediately respond to Reuters` request for comment.
The report sent shares of U.S. drug distributors including McKesson, Cardinal Health and AmerisourceBergen higher on Monday afternoon.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.