Shares of drug retailers Walgreens Boots Alliance Inc
Amazon is reported to be in discussions with mid-market pharmacy benefit managers and has been hiring talent to assess the drug retailing market for its entry, brokerage firm Leerink analyst Ana Gupte wrote in a note to clients.
"We are convinced that AMZN will almost certainly enter the drug distribution value chain within 2 years, evolving into a more disruptive offering over time," Gupte said.
Amazon`s entry into pharmaceuticals has been long rumoured in the media.
On Friday, CNBC reported that the e-commerce giant would decide before Thanksgiving whether to move into selling prescription drugs online, citing a company email and a source familiar with the matter. (http://cnb.cx/2hTIxvL)
Amazon does not comment on rumours or speculation, a company spokeswoman said.
Shares of drug retailers Walgreens closed down 5.8 percent, Rite Aid 4.9 percent and CVS Health 4.9 percent.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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