Amazon (AMZN.US) has announced a foray into the healthcare industry, selling low-cost generic drugs that treat hair loss and erectile dysfunction.
Amazon offers lower prices than companies like Hims & Hers Health (HIMS.US), and Prime subscription services are also available for purchase. Amazon will charge $16 a month for the hair loss drug, while the same drug in Hims ads is priced at $22 per month and private competitor Ro is priced at $20 per month.
After the announcement, Hims & Hers stock fell 14%.