MedicineNet.com to Sell Drugs Online
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Foothill Ranch-based MedicineNet.com said Tuesday it has signed a deal with a New York drug distributor to open an online pharmacy.
MedicineNet.com, a privately held online health care information publisher, said it will initially offer over-the-counter health care products beginning midsummer and later expand to prescription drugs, with Brooklyn-based Remo Drug Corp. providing the products.
This is the first e-commerce venture for the 3-year-old MedicineNet.com, which was founded by a group of doctors and high-tech executives and offers information on diseases, treatments and medical procedures. Remo, which has made an equity investment in MedicineNet.com, had revenue of more than $500 million last year.
MedicineNet.com acknowledged that it will have a tough row to hoe. The online health care information market is extremely competitive, with traditional publishers, hospitals and online-only publishers having already signed deals with the major Web portals to drive traffic to their sites.
Several other online drugstores have also started operating, including Drugstore.com, which recently sold a 40% stake to retailer Amazon.com.
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