Amazon Inches Closer On Making Decison To Join Pharmaceutical Sector
There is the potential for Amazon.com, Inc. to join the pharmaceutical industry.
Throughout 2017 corporate giant Amazon has gained approval to become a wholesale distributor from a number of state pharmaceutical boards.
It was reported by St. Louis-Dispatch that the Seatle based company had acquired wholesale phamaceutical licenses in multiple U.S states.
At least 12 states, including Nevada, Arizona, North Dakota, Louisiana, Alabama, New Jersey, Michigan, Connecticut, Idaho, New Hampshire, Oregon and Tennessee have granted approval.
Pfizer CEO, Ian Read welcomed the potential for Amazon to join the pharmaceutical industry.
In a recent third-quarter conference call Mr Read said:
“Any system of distribution, you can cut costs and have a wide availability of products to patients is something that the whole industry will be interested in.”
Allergan CEO Brent Saunders considered how this move could benefit the overall healthcare system.
“My sense is that the whole ecosystem is ripe for disruption to figure out a way to do it more efficiently, to do it more conveniently for patients to better manage compliance and persistence.”
“I do think that just like science is disrupted with gene therapy or novel treatments, I think the drug distribution channel also should be disrupted with improvements based on technology or effiency.”
It is still unclear whether or not Amazon CEO, Jeff Bezos will make the expansion. A decision is predicted to be made nearing the end of November.