Amazon.com (AMZN) appears one step closer to infiltrating another industry.
Throughout the past year, the e-commerce giant has been gaining approval to become a wholesale distributor from several pharmaceutical boards, the St. Louis Post-Dispatch reported.
Amazon has attained authorization for wholesale pharmacy licenses in at least 12 states, including Nevada, Arizona, North Dakota, Louisiana, Alabama, New Jersey, Michigan, Connecticut, Idaho, New Hampshire, Oregon, and Tennessee, the report said. An additional application is pending in Maine.
It remains unclear whether the filings validate Amazon's plan to infiltrate the prescription drug delivery business, the paper noted.
Shares of Express Scripts (ESRX) , a pharmacy benefit managers (PBMs), a third-party administrator of prescription drug programs for commercial health plans and self-insured employer plans, were sinking over 3%.
More of What's Trending on TheStreet:
- Celgene's Stock Is Getting Absolutely Torched -- Don't Panic, Yet
- Charter and Comcast Shares Get Punished for Cord Cutting
- Intel Could Become a Buy Within Hours -- You've Been Warned
- Nike's Back With a New Five-Year Plan That Could Be a Slam Dunk