If you’re an individual investor who wants to invest in Drugstore.com, you’re out of luck. The company is private. What you might want to do instead is put your money in Walgreens (NYSE: WAG).
On Wednesday, online grocer Peapod (Nasdaq: PPOD) announced that Walgreens would supply it with a variety of health and beauty products. On Thursday, Walgreens, the largest drugstore chain in the United States, upped the ante by saying that it plans to sell prescriptions online in the Fall.
Walgreens already has a loyal customer base and gets about half of its $15.3 billion in annual sales from prescriptions. There’s no reason to believe that these numbers won’t get bigger as Walgreens expands its e-commerce offerings.