Amazon hit a milestone last month after the price of one share hit US $1,000 for the first time, giving it a total value of close to $500 billion. That makes it the fourth-biggest company in the U.S. in terms of market capitalization and twice the size of brick-and-mortar rival Walmart.
The online retailer's incredible growth has come from expanding into more and more areas of the economy, providing its customers with speedy delivery of everything from socks and books to lawn chairs and computers. One category it has yet to enter, however, is prescription drugs.
The biggest online retailer's entry into this market may lead to efficiency gains, but the cost would be dear in terms of further severing the link between patients and actual pharmacists. Research, including my own, shows that patients need more face-to-face time with pharmacists, not less.