Amazon.com, Inc. today announced the expansion of its foothold into the pharmacy business with two new pharmacy offerings to help customers conveniently purchase their prescription medications. Amazon Pharmacy, a new store on Amazon, allows customers to complete an entire pharmacy transaction on their desktop or mobile device through the Amazon App.
Here are six key things to know about this landmark announcement:
1. Using a secure pharmacy profile, customers can add their insurance information, manage prescriptions, and choose payment options before checking out. Amazon Prime members will receive free two-day delivery and up to 80% savings when paying without insurance, with a new prescription savings benefit
2. Before checking out customers can compare their insurance co-pay, the price without insurance or the available savings with the new Prime prescription savings benefit to choose their lowest price option.
3. Customers can add insurance information and ask their prescriber to send new or existing prescriptions directly to Amazon Pharmacy.
4. Orders are delivered in discreet packaging to the customer’s preferred address. Medications require a prescription from a licensed health care provider.
5. Customers have online self-service help options combined with phone access to customer care at any time.
6. With the announcement of Amazon’s further market penetration in the pharmacy market, CVS stock (CVS) fell 9% to $67. Walgreens (WBA) lost 9%, at $40, while the smaller Rite Aid (RAD) fell a huge 16%, to $10.88.
