Wednesday, November 18, 2020

Amazon's Stocks Soar After This!

 Amazon.com Inc has made the biggest efforts in pharmaceutical sales by launching a digital pharmacy and offering Prime members in the US discounted prices on medicines.


The leading e-commerce company has launched Amazon Pharmacy, its share of a web page and a mobile app that lets people order drugs. In addition, buyers can pay using their health insurance while Prime members who do not use their insurance deserve a discount on the drug on the Amazon website or around the 50,000 pharmacies that take part.


To everyone's knowledge, Amazon's new offering is fueled by the acquisition of the $ 753 million PillPack, a well-known online pharmacy. This development makes the Seattle-based e-commerce company a competitor to the leading pharmaceutical companies, CVS Health Corp. and Walgreens Boots Alliance Inc., which is the largest company in the US.


Even more unfortunate, CVS shares were found to have fallen as much as 3.9% in trading before the US stock exchange opened when Walgreens Boots posted a drop of 7%.



In addition, the launch of digital pharmaceuticals also allows these e-commerce companies to compete with Walmart Inc and several other companies that have been running the sale of pharmaceuticals.