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Amazon launches online pharmacy in new contest with drug retailers

NEW YORK (REUTERS) - Amazon.com on Tuesday (Nov 17) launched an online pharmacy for delivering prescription medications in the United States, increasing competition with drug retailers such as Walgreens, CVS Health and Walmart. Called Amazon Pharmacy, the new store lets customers price-compare as they buy drugs on the company's website or app. Shoppers can toggle at checkout between their co-pay and a non-insurance option, heavily discounted for members of its loyalty club Prime. The move builds on the web retailer's 2018 acquisition of PillPack, which Amazon said will remain separate for customers needing pre-sorted doses of multiple drugs. Shares of pharmacy chains, drug wholesalers and grocers fell in afternoon trading. Amazon's shares were up nearly 1 per cent. Over the past two years, Amazon has worked to secure more state licences for shipping prescriptions across the country, which had been an obstacle to its expansion into the drug supply chain, according to analyst notes from Jefferies Equity Research. The company founded as an online bookseller has disrupted industries including retail, computing and now potentially pharmaceuticals, drawing criticism of its size and power...