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Drug suppliers' shares rise as looming Amazon threat appears to ease

Reuters 

By Manas Mishra(Reuters) - Shares of U.S. drug suppliers rose on Monday after a report that Amazon.com Inc had dropped plans to sell drugs to hospitals, in a boost to a pharmaceutical supply chain rattled by the looming threat of competition from the online retailer.Stocks of drug distributors McKesson , AmerisourceBergen and Cardinal Health rose 2 to 3 percent, while drugstore chains Walgreens Boots Alliance and CVS Health each advanced about 5 percent.Healthcare investors expect Amazon will become a major force in the industry, fuelled by recent media reports that the Seattle-based ...

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First Published: Tue, April 17 2018. 01:30 IST
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