Amazon Starts Selling Prescription Drugs To Prime Customers Tyler Durden Tue, 11/17/2020 - 06:41 There's an old saying: Never waste a good crisis. Well, Amazon CEO Jeff Bezos, the world's richest man, isn't letting COVID-19 pass without wringing all the juice from the lemon. After years of quiet and consistent preparation, from acquiring PillPack, to filing for licenses and trademarks, Amazon is finally ready to launch its online pharmacy business. The company announced Tuesday that it will start selling prescription drugs to its prime customers, a move that was widely seen as the logical next step for the e-commerce behemoth. In a surprise move, the online pharmacy is opening Tuesday, marking an aggressive move into the pharmacy industry in the middle of an unparalleled health crisis. Walgreens, CVS and Rite Aid tumbled in pre-market trading on the news, leaving them set to open lower, as stocks look to give back some gains after the Dow (of which Walgreens is a member) reached record highs yesterday. Pharmacy stocks have sold off on every piece of news surrounding Amazon's pharmacy gambit, as Jeff Bezos' track record of success when moving into a new industry is unparalleled. With state governors across the US imposing new coronavirus restrictions, we imagine millions of customers will scramble to switch their prescriptions over from CVS and Walgreens to Amazon, which could create problems for both in the near-term.