Home News Amazon offers a monthly prescription drug plan for $5

Amazon offers a monthly prescription drug plan for $5

by SuperiorInvest

Key things

  • Amazon ( AMZN ) said it will make a monthly prescription drug service available to its Prime members.
  • Amazon RxPass subscribers, which will cost $5 a month on top of Prime membership fees, will get access to certain generic drugs with free shipping and no additional fees.
  • Amazon shares fell 1% on Jan. 24, the day the retail giant announced the move.

Amazon (AMZN) is expanding its reach into healthcare by offering its Amazon Prime members a low-cost prescription drug plan.

The company explained that participants in the program, called RxPass, will receive free generic drugs that treat more than 80 common medical conditions, along with free delivery for a $5 monthly fee. The fee would be on top of the $139 per year Prime membership.

Amazon noted that Prime members who typically take two or more medications per month to manage chronic or persistent medical conditions can save significant time and money with RxPass. He added that among the available medications are those that treat high blood pressure, anxiety and acid reflux.

John Love, vice president of Amazon Pharmacy, said the plan gives customers “surprisingly simple, low prices” on their medications. Amazon said members can sign up for RxPass in most states starting today.

Movements in healthcare

Amazon has been adding several healthcare services to its business portfolio since 2018, when it purchased online pharmacy PillPack. Last summer, it spent $3.9 billion to acquire primary care provider One Medical.

CEO Andy Jassy noted that health care is one opportunity the company is confident about, even as it has laid off employees and taken other steps to cut costs.

Amazon shares fell 1% today, losing a third of their value in the past 12 months.

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