Stories

Bob Herman Apr 16
SaveSave story

Amazon pulls back drug distribution plans

Photo of the Amazon.com logo.
Amazon isn't jumping into drug distribution for now. Photo: David Ryder / Getty Images

Amazon is suspending plans to sell and distribute prescription drugs and instead will continue to focus on "less sensitive" medical supplies, CNBC reports. Logistics and hospitals' current relationships forced Amazon to abandon its plans, although they could be revived.

The big picture: The thought of Amazon's cost-cutting tactics entering health care in a bigger way has routinely freaked out the industry, but it turns out health care is complicated. Stock prices of companies in the drug supply chain, like McKesson and CVS, shot up sharply on the news.

Axios 11 mins ago
SaveSave story
Featured

Axios situational awareness

🇰🇵 Otto Warmbier's family is suing North Korea — ⚖️ Cosby found guilty in sexual assault trial — 🌎 Pompeo confirmed as Secretary of State — 🍳 Pruitt grilled by Congress

Sign up: Mike Allen's Axios PM.

Dave Lawler 12 mins ago
SaveSave story
Featured

Trump's next guest: Merkel follows Macron

Illustration: Sarah Grillo / Axios

German Chancellor Angela Merkel will arrive in Washington tomorrow a diminished figure — limping into her fourth term after six months of torturous coalition talks and touching down in the afterglow of Emmanuel Macron’s state visit.

Flashback: Days after Trump’s election in November 2016, Barack Obama flew to Germany and hailed Merkel — then TIME’s reigning Person of the Year — as “my closest international partner these last eight years.” Headlines declared that she had, however reluctantly, become the "leader of the free world."