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Amazon launches six-month $6 prescriptions to Prime members

The new benefit program follows Walmart’s announcement and seeks to disrupt the prescription drug market. The post Amazon launches six-month $6 prescriptions to Prime members appeared first on The Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Amazon (NASDAQ: AMZN) announced today that it is launching a new prescription program for members of its Prime loyalty program, less than a day after Walmart (NYSE: WMT) said it was offering Walmart+ members a discounted prescription service as well.

Having acquired PillPack in 2018, Amazon has been looking to leverage its ability to buy prescription medicine in bulk and provide savings to members in a bid to take a large slice of the $360 billion prescription drug market.

Like the Walmart program, Amazon’s new service is looking for patients who take just a small number of fairly common medicines, such as those used to treat high blood pressure and diabetes; they’ll pay as little as $1 per month and receive a six-month supply.

Six months is typically longer than what insurance companies will pay for, so consumers could see real savings by enrolling in the healthcare prescription program. As Prime members, they’d also be entitled to receive free two-day delivery.

The new offer is an expansion of the Amazon Pharmacy benefit announced last month that allows Prime members to comparison shop for savings through its network of 60,000 pharmacies. It noted Prime members save 80% on generic medications and 40% on name-brand ones through Amazon Pharmacy.

Walmart just introduced Walmart+ RX, which also provides significant discounts on commonly used medications. It notes that members of Walmart+, a loyalty program the retailer launched to challenge Amazon Prime, can get some common medications free while saving up to 85% on others.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Amazon launches six-month $6 prescriptions to Prime members appeared first on The Motley Fool Australia.

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Rich Duprey has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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