Amazon (AMZN.US) announced its entry into the medical care industry, planning to sell affordable generic drugs for the treatment of hair loss and erectile dysfunction.
Amazon will offer prices lower than those of companies like Hims & Hers Health (HIMS.US), and the Prime subscription service can also be used to purchase them. Amazon will charge $16 per month for hair loss medication, while the same drug advertised by Hims is priced at $22 per month, and private competitor Ro charges $20 per month.
After the announcement, Hims & Hers' stock price fell by 14%.