The market's down day notwithstanding, CVS Health (CVS -1.5%), Walgreens Boots Alliance (WBA -2.8%) and Rite Aid (RAD -2%) are all under additional pressure on the rumor that Amazon (AMZN -1%) is preparing to enter the pharmaceutical market.
The 800-pound gorilla of e-commerce has hired Mark Lyons from Premera Blue Cross to build an internal pharmacy benefits manager for its employees, according to CNBC. It also recently began selling medical supplies and equipment in the U.S. and is hiring industry talent to ensure that it is meeting regulatory requirements.
Source: The Fly
Previously: Amazon pharmacy on the horizon (May 17)
Now read: Risk Arbitrage Today: Rite Aid Options »