What do you think about Amazon entering the pharmacy space in Australia?
According to a CNBC report this month, Amazon.com is seriously considering entering the pharmacy business.
Insiders from the US online retail giant told CNBC that for the last few years, Amazon has held at least one annual meeting at its Seattle headquarters to discuss whether it should enter the pharmacy business.
And this year, with a growing trend toward consumers paying for health care it is ready to get more serious, the insiders say.
Bloomberg commentator Max Nisen says Amazon breaking into the prescription drug space “wouldn’t be easy, but the industry and its investors shouldn’t dismiss the threat”.
“The pharmacy business would bring plenty of extra challenges. For one, it involves a particularly heavy dose of regulation,” says Mr Nisen.
“At the same time, Amazon has many advantages when it comes to selling just about anything. Hundreds of millions of people buy something from Amazon every year, something no other company, let alone another pharmacy, can really match.”
Amazon announced in April it is coming to Australia and will also start hiring to add hundreds more to the 1000 employees already in Australia.
“We are excited to bring thousands of new jobs to Australia, millions of dollars in additional investment, and to empower small Australian businesses through Amazon Marketplace,” said the company in a statement.
Considering the rules surrounding pharmacy ownership in Australia, Amazon pharmacies are not something that will happen here any time soon.
However we want to know what you think about the concept. Vote in our poll below.