Mercado Livre starts selling prescription drugs with delivery in up to 60 minutes in São Paulo, and pharmacy stocks fall up to 8%
Mercado Livre announced on September 24 that it will sell prescription drugs on its platform from September 25, with delivery in up to 60 minutes in the São Paulo metropolitan area, including antibiotics and GLP-1 drugs. Pharmacy chain stocks reacted in the same session: RD Saúde closed down 5.38%, Pague Menos fell 8% after dropping more than 10% right after the announcement and Panvel lost 4.90%. The company expects three partner chains in October and 20 by year end.