Amazon already undercutting prices on over-the-counter pills

Entry point: Amazon began selling the Basic Care line in August with roughly 35 products and has since expanded its range to 65 drugs, according to the Jefferies analysts. — Reuters

NEW YORK: As pharmacy chains await Amazon.com Inc’s entry into the prescription-drug market, the online retail giant is already undercutting them for non-prescription medicine for aches, colds and allergies.

Median prices for over-the-counter (OTC), private-brand medicine sold by Walgreens Boots Alliance Inc and CVS Health Corp were about 20% higher than Basic Care, the OTC drug line sold exclusively by Amazon, according to a report by Jefferies Group analysts.