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IPFS News Link • Big Pharma

CONFIRMED: Amazon going all-in with Big Pharma

•, by: JD Heyes

As reported by the U.K.'s Daily Mail, there was much speculation within the industry that Amazon was set to enter the multi-billion-dollar drug industry after the company began hiring a team and making preparations related to the healthcare industry.

CNBC noted that the retail giant believes it could rake in some $50 billion per year in drug sales and profits.

The Jeff Bezos-owned company has also reportedly hired a top technology executive, Missy Krasner, the former vice president and managing director of Box's healthcare and life sciences group. While her official role has not yet been defined nor title conveyed, reports suggested she would be working for Amazon Web Services, the company's cloud division.

"Amazon is investing heavily in health across a number of different areas, and another source said Krasner has been talking to Amazon Web Services for several years about a potential move," CNBC reported in a separate story.