New York: Now at Amazon.com: insulin and inhalers. The online colossus opened an online pharmacy on Tuesday that allows customers to order medication or prescription refills, and have them delivered to their front door in a couple of days.
The potential impact of Amazon's arrival in the pharmaceutical space rippled through that sector immediately. Before the opening bell, shares of CVS Health Corp. fell almost 9%. Walgreens and Rite Aid both tumbled more than 10%.
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The big chains rely on their pharmacies for a steady flow of shoppers who may also grab a snack or shampoo or groceries on the way out. All have upped online services, but Amazon.com has mastered it, and its online store is infinitely larger.
Amazon will begin offering commonly prescribed medications Tuesday in the U.S., including creams, pills, as well as medications that need to stay refrigerated, like insulin. Shoppers have to set up a profile on Amazon's website and have their doctors send prescriptions there. The company said it won't ship medications that can be abused, including many opioids.