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Amazon’s move into wholesale pharmaceuticals sent pharmacy stocks plunging

It’s tough being everyone else.

Rani Molla is a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.

Amazon has proven time and again it has the power to move markets.

Following a report yesterday from the St. Louis Post-Dispatch that Amazon obtained wholesale pharmacy licenses in 12 states, stock prices plunged for a number of pharmaceutical distribution companies, including CVS, Cardinal Health, AmerisourceBergen and McKesson.

Later yesterday afternoon, the Wall Street Journal reported CVS wants to buy health insurer Aetna for $66 billion. That announcement helped mitigate CVS’s stock decline.

AmerisourceBergen and Cardinal Health stocks are down about 10 percent and McKesson stock was down 13 percent this morning.

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