Amazon Is Already Undercutting Prices on Over-the-Counter Pills

Median prices for over-the-counter, private-brand medicine sold by Walgreens Boots Alliance Inc. and CVS Health Corp. were about 20 percent higher than Basic Care, the over-the-counter drug line sold exclusively by Amazon, according to a report Friday by Jefferies Group analysts. Last week, Amazon announced that it was buying PillPack, a pharmacy company that will give it an entry point into the U.S.’s $328.6 billion market for prescription drugs. Shares of CVS and Walgreens plunged on the news, as investors bet Amazon could lure pharmacy customers with lower prices, and give them one less reason to go to the corner drugstore. (Aziza Kasumov, Bloomberg News)


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