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.
The report has helped to drag down the shares of pharmacy stocks including CVS (CVS) - Get CVS Health Corporation Report , lower over 4%, Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report , down over 2.8%, and Rite Aid (RAD) - Get Rite Aid Corporation Report , sinking over 7%.
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%.
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