Pharma & Life Sciences

Walgreens CFO Downplays Amazon’s Role in Pharmacy Industry

Nov. 19, 2020, 8:09 PM

Walgreens Boots Alliance’s finance chief downplayed the impact of Amazon.com Inc. just days after the internet giant’s push into online pharmacy sent shares of pharmacies and drug distributors reeling.

While Amazon is a formidable competitor, at this point it’s only a mail pharmacy, Walgreens Chief Financial Officer James Kehoe said Thursday at the Wolfe Healthcare Conference.

Mail accounts for about 10% of prescriptions filled in the U.S., and people remain loyal to physical drugstores, Kehoe said. Walgreens boasts more than 9,000 stores where people can quickly pick up prescriptions or receive vaccines.

“When you want to get your Covid...

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