Amazon started with online shopping, moved into original programming, and now it’s looking to break into the 300 billion dollar pharmaceuticals sector. Having already sold medical equipment on its U.S. website, it’s no stranger to the medical industry. The health care industry accounts for nearly 18% of the U.S. GDP so this could be a big move in extending their business.
While Amazon has cornered the online market, safety issues will play into factor when it comes to selling Pharmaceutical products. Amazon will have to deal with FDA clearance, doctor authorizations, prescriptions, insurance, and deductibles. According to Fortune, “given the company’s need to continue its sales growth, improve profit margins, and justify its stock price, pharmaceutical distribution may be just what the doctor ordered.
We’ve Got Company
Amazon isn’t the only company that’s looking to diversify itself with Pharma. In fact, Johnson & Johnson is investing in online video giant YouTube for their new foray into original programming. Since Pharma plays such a huge role in the U.S. health care industry, it’s no wonder that they are getting involved with the profitable video market.
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