Confirmed: Amazon going all-in with Big Pharma, plans to launch online pharmaceutical sales to earn billions in drug profits
‘Retail behemoth Amazon, which is already being eyed by some lawmakers who are concerned about its attempts to monopolize virtually every industry the company ventures into, is now aiming for complete dominance over Big Pharma, which will lead to monopolization of the retail drug market.
As reported by the U.K.’s Daily Mail, there was much speculation within the industry that Amazon was set to enter the multi-billion-dollar drug industry after the company began hiring a team and making preparations related to the healthcare industry.
CNBC noted that the retail giant believes it could rake in some $50 billion per year in drug sales and profits.
The Jeff Bezos-owned company has also reportedly hired a top technology executive, Missy Krasner, the former vice president and managing director of Box’s healthcare and life sciences group. While her official role has not yet been defined nor title conveyed, reports suggested she would be working for Amazon Web Services, the company’s cloud division.’
Read more: Confirmed: Amazon going all-in with Big Pharma, plans to launch online pharmaceutical sales to earn billions in drug profits
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