Drug chains tumble on reports Amazon eyeing their pie

Drug chains tumble on reports Amazon eyeing their pie(Reuters) - Shares of drug retailers Walgreens Boots Alliance Inc , CVS Health Corp and Rite Aid Corp tumbled on Friday after reports that Amazon.com Inc was looking to make a move into selling drugs online. Amazon is reported to be in discussions with mid-market pharmacy benefit managers and has been hiring talent to assess the drug retailing market for its entry, brokerage firm Leerink analyst Ana Gupte wrote in a note to clients. Amazon's entry into pharmaceuticals has been long rumoured in the media.




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