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Amazon shelves plan to sell bulk pharmaceuticals
Apr 16, 2018
inShare
Amazon Business, the bulk products arm of Amazon, is ditching its plan to become a major pharmaceutical distributor.
The company reportedly changed course after studying the complicated logistics of distributing temperature-sensitive pharmaceuticals. Amazon also found that hospitals were not enthusiastic about changing their traditional purchasing process.
Instead, Amazon said it will focus on continuing to sell less sensitive healthcare supplies. It is also still considering direct-to-consumer pharmaceutical sales.
Shares for companies in the pharmaceutical supply chain, such as distributors and drug price negotiators, reportedly rose sharply Monday after the news was released.
Read the full CNBC report.
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