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When Jeff Bezos goes shopping, he means business. Following its acquisition of MGM Studios last Wednesday, Amazon announced that it is looking to expand its U.S. drug marketing operations by opening physical pharmacies, according to a report by Business Insider.
A person close to the negotiations said Amazon executives have discussed setting up stand-alone stores in Boston and Phoenix and installing pharmacies inside some or all of its 350 Whole Food stores.
“Amazon Pharmacy is focused on making home-delivery pharmacy easier and more convenient for customers,” a spokesperson said. “Customers can complete a full transaction on their desktop computer or mobile device through the Amazon app and have medications delivered to their door, with free two-day delivery for Prime members.”
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In fact, in view of the figures, he wonders: “How many primary care centers could be maintained with our contribution of 6,000 million? Or how many nursing professionals are financed by our activity? We dare not answer the first question because of the great differences between these types of centers, but the second is easy: with 517.2 million euros, the annual salaries of 19,423 nursing professionals can be paid, almost one per pharmacy”.
They also stress that pharmacies pay much more than the pharmaceutical industry, “even if we take into account their so-called voluntary contributions which, on average, have never been more than 200 million euros”.
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Walgreens, one of the most important drugstore chains in the United States, announced on October 27, 2015 the purchase of rival firm Rite Aid, in a deal for 9.4 billion dollars, which was going to allow it to unite almost 13,000 points of sale.
However, that deal presented risks due to the fact that competition watchdogs did not give the green light to the project, since the two firms are, together with the rival CVS chain, the most important in the sector in the United States. In a statement, Walgreens explained today that it had reached a definitive agreement to buy 2,186 Rite Aid stores, 2,414 fewer than the proposal announced in 2015. It will also acquire three Rite Aid distribution centers. The value of the deal will now be $5.175 billion. By changing the terms of the deal, Walgreens will pay Rite Aid financial compensation of $325 million, the statement adds. “We believe this new agreement satisfies the competition concerns previously noted with respect to the initial agreement,” said Walgreens top executive Stefano Pessina. The announcement was greeted with an almost flat performance in Walgreens shares two hours after the opening of Wall Street, but Rite Aid shares fell 24%. SOURCE: EFE
U.S.: Walgreens pharmacy chain buys Rite Aid
Amazon reported today that it has entered the pharmacy business with a new service that allows you to buy prescription drugs through its platform and receive them at home for free for Prime subscribers, which has caused a sharp drop in the shares of large pharmacy chains in the country.
Amazon Pharmacy, the new service from Jeff Bezos’ company, is an online store where users can create a “secure profile” and receive prescriptions from their doctor there, enter their health insurance and buy the drugs to receive them at home.
When Jeff Bezos’ company bought the pharmaceutical startup PillPack, the share price of traditional local pharmaceutical chains such as Rite Aid, CVS and Walgreens also plunged.