Amazon To Set Foot In Prescription Drug Sales In Japan: Report

E-commerce giant Amazon.com Inc AMZN is purportedly planning to enter the prescription drug sales market in Japan, the Nikkei reported.
Amazon will partner with small and medium-size pharmacies to create an online platform, and customers can have their medicines delivered at home.
The move will be a huge game changer for Japan’s brick-and-mortar pharmacies.
The company will not own any pharmacies or carry inventory.
Japan has about 70 wholesale drug distributors and 60,000 pharmacies, and the government sets the drug prices.
Amazon’s project is expected to be rolled out in 2023, when electronic prescriptions will be allowed in the country.
Pharmacies will provide the patient with online instructions for medications, and Amazon’s delivery network will be used to deliver the drugs from the pharmacy to the patient’s homes.
Price Action: AMZN shares are trading higher by 0.67% at $128.37 in premarket on the last check Tuesday.