Amazon.com Inc. reportedly has quietly launched an exclusive line of over-the-counter health products in a possible challenge to pharmacy retail chains.
Technically, the company doesn't own these products, which are produced by private-label manufacturer Perrigo, CNBC.com reported.
The e-commerce giant launched the Basic Care line in August, including 60 products ranging from ibuprofen to hair regrowth treatment, CNBC explained.
Amazon’s strategy could spark a price war and put pressure on store-brand profit margins, CNBC explained.
CVS Health, Walgreens Boots Alliance and Rite Aid are losing traffic as people shop for OTC products online, including on Amazon.
Already tiumphant in online retail, cloud computing, organic groceries, and streaming television, the move is yet another in a recent series by Amazon founder and chief disruptor Jeff Bezos in turning his seemingly limitless ambition to healthcare.
Amazon, launched as an internet bookseller nearly 24 years ago, has branched into offerings including voice-commanded speakers infused with Alexa artificial intelligence and original TV shows streamed online at its Prime subscription service.
Healthcare now appears ripe for Bezos, who has earned a reputation for attacking high costs and inefficiencies.
Another step in that direction was taken last month, with Amazon announcing an alliance with billionaire Warren Buffett and JPMorgan Chase chief executive Jamie Dimon to provide a health care system for employees of the three companies.
According to the Wall Street Journal, Amazon would also like to become a supplier of medical equipment for hospitals.
"I think Bezos is methodical and thoughtful," eMarketer senior analyst Patricia Orsini told AFP.
"He has identified a market that is ready for disruption. The healthcare system in the US is ripe for reform."
"He has identified a market that is ready for disruption. The healthcare system in the US is ripe for reform."
Bezos faces the challenge of taming skyrocketing costs throughout US health care from insurance and medicine to supplies and therapy.
"Just as with every other industry Amazon has entered, Bezos is envisioning lower-priced alternatives with frictionless services that could, over time, make a lot of money for Amazon," Orsini said.
Barclays analysts said in a recent research note on Amazon's potential in health care, "We are never dismissive of anything disruptive that Amazon is involved in. Amazon arguable has the best technical abilities of any company we cover."
Amazon has been on a stunning growth streak of late, expanding its international retail operations as far as India and Australia, while devouring the US organic supermarket Whole Foods group.
(Newsmax wire services contributed to this report).
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