Rumours of Amazon entering the pharmacy industry leads to a drop in shares of drug retailers

Shares of drug retailers Walgreens Boots Alliance Inc, CVS Health Corp and Rite Aid Corp tumbled on Friday after reports that Amazon.com Inc was **looking to make a move** into selling drugs online. [caption id=“attachment_4020819” align=“alignleft” width=“380”]  Amazon logo.[/caption] Amazon is reported to be in discussions with mid-market pharmacy benefit managers and has been hiring talent to assess the drug retailing market for its entry, brokerage firm Leerink analyst Ana Gupte wrote in a note to clients. “We are convinced that will almost certainly enter the drug distribution value chain within 2 years, evolving into a more disruptive offering over time,” Gupte said. Amazon’s entry into pharmaceuticals has been long rumored in the media. On Friday, CNBC reported that the e-commerce giant would **decide** before Thanksgiving whether to move into selling prescription drugs online, citing a company email and a source familiar with the matter. Amazon does not comment on rumors or speculation, a company spokeswoman said. Shares of drug retailers Walgreens closed down 5.8 percent, Rite Aid 4.9 percent and CVS Health 4.9 percent.