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Billionaire Says Amazon Won’t Enter Drug Business

April 24, 2018 By Young Research

By Pavel Chagochkin @ Shutterstock.com

Julia La Roche reports at Yahoo Finance:

Billionaire hedge fund manager Larry Robbins, the CEO of healthcare-focused Glenview Capital Management, seriously doubts that Amazon (AMZN) is going to get into the pharmaceutical business.

“[We] don’t believe Amazon’s entry is imminent,” Robbins told a room of 3,000 investors at the Sohn Conference in New York on Monday. “We don’t think that it’s going to destroy the industry.”

He added that some of the vertical integrations currently taking place between companies are “not reactive to Amazon.” Instead, they are “proactive to the environment.”

He acknowledged that it’s possible that over the next decade Amazon will attempt to do something in the space.

“What could they do? Well, they’re the biggest business-to-consumer network in the world, so they can offer the unlimited supply of chronic or generic medications that people take on a routine basis. It’s not as straight-forward as offering general merchandise or other things, but they could do that.”

Read more here.

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