Brazil pharma stocks plunge up to 10% as Mercado Livre enters prescription drug sales

Mercado Livre announced it will begin selling prescription drugs, triggering a sharp selloff in Brazilian pharmacy chains RD, Pague Menos, and Panvel, with shares falling up to 10%. The move signals intensifying competition in Brazil's pharmaceutical retail sector, threatening the market share of established brick-and-mortar chains. The magnitude of the impact remains uncertain as regulatory and operational details are yet to be disclosed.