CNBC June 20, 2019
KEY POINTS
- Health-care companies have said they are not threatened by Amazon.
- But in a recent lawsuit, CVS argues that Amazon could pose a threat by negotiating directly with insurers, bypassing its lucrative pharmacy benefits manager, or PBM, business.
When word spread that Amazon would move into health care in 2017, health-care executives had a ready answer: We are not afraid.
“I honestly don’t believe that Amazon will be interested in the near future in the next few years in this market,” Walgreens’ CEO Stefano Pessina told investors in an earnings call in July 2017.
“I think we have a lot...
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