Retail behemoth Amazon.com Inc. is reportedly in its homestretch in a historic decision. The company is taking the necessary steps to enter the billion-dollar industry of pharmaceuticals. Amazon customers might sooner than they think get to purchase their prescription drugs online. There are high chances the company is going to promote aggressive price tiers.
Amazon Executives Have until Thanksgiving to Decide Whether or Not to Enter the Big Pharma World
According to an internal email that circulated Amazon headquarters, the company has big plans ahead. Executives are currently considering the idea of entering the pharmaceutical market or not. They have until Thanksgiving to reach a conclusion. However, given the company’s ambition to become an online one-stop shopping hub, Amazon might have small chances to resist such a temptation.
Several reports pointed out that the U.S. market for prescription drugs is worth $560 billion per year. No Amazon spokesperson commented on the news, yet it is known that the retailer crunches the numbers for years before taking a plunge.
Over the past years, executives left signs behind of collaborating with industry expert. They asked for input on a possible new Amazon channel within the pharmaceutical market. For instance, Eric French reportedly recruited professionals for a new project with the code name of “healthcare.” French is the grocery and Pantry chef at Amazon.
Amazon Customers Might Have to Wait for Years before Buying Prescription Drugs Online
A few months ago, it was reported that Mark Lyons from health insurance firm Premera Blue Cross became part of Amazon team. His task was to put together a management project for an internal pharmacy. Only employees had clearance to buy prescription drugs from this source. It is possible that Amazon will consider the success of this internal project as a decisive point in launching its own pharmacy business.
Even though the Thanksgiving deadline receives a favorable decision, it can be a long time before Amazon becomes a new leading name in the big pharma world. There is a long way to go between toying with a business idea and entering a new market. Therefore, it can take up to two years for Amazon to make the news public.
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