The talks are mostly exploratory and any meaningful rollout of stores can take more than a year, according to the news site, citing people familiar with the matter.
Insider also reported there were talks about putting the pharmacies inside of Amazon-owned Whole Foods locations. (https://
An Amazon (NASDAQ:AMZN) spokesperson said the company does not comment on rumor or speculation but added that Amazon Pharmacy is focused on making at-home delivery pharmacy easier and more convenient for customers.
The e-commerce giant launched an online pharmacy in November for delivering prescription medications in the United States and stirring up competition with drug retailers such as Walgreens Boots Alliance (NASDAQ:WBA), CVS Health and Walmart (NYSE:WMT).
The move was built on its 2018 acquisition of PillPack, which Amazon said would remain separate and cater to customers who need pre-sorted doses of multiple drugs.
The company’s potential move into the physical pharmacy space will pit it directly against established players.
Shares of Walgreens, CVS and Rite Aid (NYSE:RAD) were all down between 3% and 5% on Wednesday.
CVS declined to comment on the report, while Walgreens and Rite Aid did not immediately respond to Reuters’ requests for comment.
Shares of drug distributors McKesson Corp (NYSE:MCK), Cardinal Health Inc (NYSE:CAH) and AmerisourceBergen (NYSE:ABC) Corp were also down about 1% each.
