Amazon launches own line of OTC drugs 23rd February 2018
In 2017, the private-label OTC medication industry ballooned 31%, reaching $8.4 billion, according to global market research firm Euromonitor International. However, branded products still dominate most categories.
He added that Amazon’s near-monopoly grip in the e-commerce business would allow the company to “undercut price,” saying that that aspect should “be concerning for whoever their competitors are in that space.”
Amazon currently does not currently sell prescription drugs. However, the e-commerce giant has previously expressed interest in the field. Amazon also recently announced its partnership with JP Morgan and Berkshire Hathaway, aiming to make a company that would help reduce health-care costs.