CVS, Walgreens Shares Slide As Amazon Files International Trademarks For Pharmacy Business

Amazon has just taken another step in its assault of the pharmacy industry.

Since the company acquired PillPack, a disruptive online pharmacy, back in 2018, pharmacy mainstays like CBS and Walgreens Boots Alliance have been rattled by the e-commerce and cloud-computing giant’s move into their territory. Their shares dipped on Tuesday as CNBC reported that Amazon had just filed trademarks for its ‘Amazon Pharmacy’ brand in several foreign markets, including Australia, Canada and the UK.

Amazon unveiled its plans to rebrand PillPack as ‘Amazon Pharmacy’ late last year, signaling to the market that it intended to pursue its pharmacy aims despite a high bar set by regulators in the US.