Amazon.com Inc. has had early talks with generic drug makers like Mylan NV and Novartis AG’s Sandoz about a potential entry into the pharmacy business, according to a Thursday report. CNBC reported Thursday that health care investment bank Leerink confirmed that a Sandoz executive recently spoke with Amazon about its plans to enter the health-care market in the U.S., and other anonymous sources confirmed the talks. Leerink analyst David Larsen has said that Amazon’s entry into the pharmaceutical sales chain in some regard “is a matter of when, not if.” Amazon shares ticked up slightly in after-hours trading Thursday, gaining about 0.1%; Mylan seemed to get the healthiest bump from the report, gaining 4.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News