Amazon.com Inc. AMZN has launched online pharmacy and drug delivery services in Japan, expanding its presence in the company’s global healthcare industry.
What Happened: Amazon has launched online prescription and medicine delivery services in Japan, in collaboration with approximately 2,500 drug stores nationwide. This initiative, introduced on Tuesday, will allow consumers to obtain their medications without visiting a physical pharmacy, reported Japan Today.
The Amazon Pharmacy service, already available outside Japan, enables consumers to receive electronic prescriptions after an online diagnosis through the CLINICS comprehensive healthcare app, or at a hospital or clinic. This service is primarily targeted at individuals with chronic health conditions who regularly require prescription refills.
Users of the service can receive guidance on medication administration through video chats with pharmacists, accessed via their Amazon accounts. They can also choose to have their medications delivered to their homes or pick them up from nearby pharmacies.
The Amazon Japan executive expressed the company’s commitment to providing personalized healthcare services and plans to collaborate with more pharmacies, including small- and medium-sized ones.
Why It Matters: This recent development in Japan follows Amazon’s expansion of its RxPass subscription service to over 50 million Medicare beneficiaries in the U.S. This expansion aimed to provide affordable access to medications for a broader audience.
Amazon’s pharmacy unit has been making significant strides, including a partnership with Eli Lilly and Co. for the delivery of obesity drugs. This partnership marked a significant step in expanding access to vital medications, with Amazon Pharmacy becoming a third-party dispensing provider for LillyDirect Pharmacy Solutions.
However, Amazon’s foray into the pharmaceutical industry was not without its challenges. The company had to implement major job cuts in its One Medical and Pharmacy units to save $100 million. Despite this, Amazon’s pharmacy unit has continued to expand its services, with the recent launch in Japan being a significant step in its global expansion.
Price Action: Amazon’s stock closed at $186.41 on Tuesday, up 2.11% for the day. In pre-market trading, the stock is slightly dipped by 0.059%. Year to date, Amazon's stock has risen by $36.48, reflecting a significant increase of 24.33%, according to data from Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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