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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
