Amazon buys online pharmacy PillPack in latest healthcare push

PillPack prepackages and mails consumers pills.									Pat Greenhouse  The Boston Globe

PillPack is a pharmacy said to be created to provide the best possible customer experience in the USA for people who take multiple daily prescriptions.

PillPack, for the uninitiated, is an online pharmacy that makes it easy for people who take several different prescriptions a day.

Amazon's acquisition of PillPack is sure to rankle the business-development team at Walmart, which was reportedly looking at buying the pharmacy startup in early April.

CVS shares tumbled 8.6% in pre-market trade on the news, while Walgreens slumped 8.5%. Walgreens Boots Alliance, the newest Dow component, plunged more than 10%. Walgreens was already trading lower after reporting in its latest earnings report that same-store sales in its United States pharmacy business fell.

Amazon and PillPack said they expected to close the deal by the end of the year, subject to regulatory approval.

"A lot of that focuses on consumer experience, and with the health care system in general, that hasn't been the number-one focus for the last 10 to 15 years".

Amazon buying PillPack is "a full frontal attack" on the health-care space.

"Money's no barrier for Amazon - they could acquire any of the big group wholesalers fairly easily, and that could cause significant indigestion for community pharmacies, as they'd have a supply chain ready-made and purchasing power second to none".

"Individual owners can build their business knowing they will have delivery volume from Amazon, access to the company's sophisticated delivery technology, hands-on training, and discounts on a suite of assets and services, including vehicle leases and comprehensive insurance", an Amazon statement said.

Hynes recommended buying shares of CVS Health and Express Scripts on weakness as Amazon's "bark is likely worse than the bite, at least initially".

Such a move had always been expected by investors in established healthcare companies, who have long feared the world's biggest online retailer's potential to disrupt the complex and opaque US drugs business. Kroger Co., the biggest US supermarket chain, saw $2 billion in market value wiped out in one day.

"When Amazon sneezes, everybody else catches a cold", said Joseph Feldman, an analyst with Telsey Advisory.

The Boston-based company said it raised $118 million from investors and venture funds since its launch in 2013.

A September 2016 funding round valued the startup at around $360 million, according to venture-capital database PitchBook.

And if Amazon's torrid stock performance in recent months is any indication, the company's shareholders love the deal activity, among other fundamental drivers.

"The role of the physical pharmacies will continue to be very, very important in future".

Related News:

  • China Says Washington Trade Actions Will Hurt American Workers

    China Says Washington Trade Actions Will Hurt American Workers

    New rules that would curb investment in American technology firms are reportedly in the works within the Treasury Department. The US claims that China's government unfairly supports Chinese companies in certain strategic industries.
    Priyanka Chopra and Nick Jonas PDA game going strong!

    Priyanka Chopra and Nick Jonas PDA game going strong!

    But recently, Priyanka Chopra is reigning the headlines for her alleged relationship with American singer-songwriter Nick Jonas . The duo made no attempt to hide from the paparazzi as they were snapped while entering and exiting a restaurant on Friday night.
    India celebrates Int'l Yoga Day

    India celebrates Int'l Yoga Day

    Sheikh said the Indian Consulate has been in the forefront in promoting yoga in Kingdom for the last three years. Yoga can also be very effective in developing coping skills and reaching a more positive outlook on life.
  • Egypt's history-making keeper El Hadary apologises to nation

    Egypt's history-making keeper El Hadary apologises to nation

    The Egyptian Football Association insists star player Mohamed Salah has never discussed worldwide retirement with them. Footballer Mo Salah has been granted honorary citizenship of Chechnya at a banquet held by its leader, Ramzan Kadyrov .
    Erdogan claims victory in Turkish election - but opponent disputes, claims manipulation

    Erdogan claims victory in Turkish election - but opponent disputes, claims manipulation

    I have been entrusted by the nation with the task and duties of the presidency", Erdogan said at his Istanbul residence. Turkey began European Union membership talks in 2005, but the discussions have been at a standstill in recent years.
    'No hidden message' in Melania Trump jacket, spokesperson says

    'No hidden message' in Melania Trump jacket, spokesperson says

    Grisham sent out a tweet saying the first lady's visit with children in Texas impacted the first lady "greatly". There was her distance from Trump in the wake of the stories her husband had an affair with a porn star.
  • 'Cutting Iran's oil from market by November  impossible'

    'Cutting Iran's oil from market by November impossible'

    Then, Iran had some $150 billion of currency stored overseas in countries such as China and Turkey as well as European banks. Iranians across the country have been protesting the nation's crumbling economy and government leadership for months.
    Rampant Mexico put Korea to the sword

    Rampant Mexico put Korea to the sword

    In midfield, they lack a dedicated creative force, preferring the hard working Hector Herrera and Andres Guardado. Group E concludes on Wednesday, when Mexico play Sweden in Ekaterinburg and Germany play South Korea in Kazan.
    Supreme Court sales-tax ruling could mean $200M for IL

    Supreme Court sales-tax ruling could mean $200M for IL

    State director Mike Hickey of the National Federation of Independent Businesses said his members are split on the sales tax issue. More than 20 states define a seller's physical presence as including any affiliated website.
  • Uruguay beat Russia to win Group A - KBC | Kenya's Watching

    Uruguay beat Russia to win Group A - KBC | Kenya's Watching

    The Paris Saint-Germain forward put a rebound into the left corner of the net after Diego Godin's header was parried by Akinfeev. The Uruguayans and goalkeeper Fernando Muslera have not allowed a goal in any of the team's six matches this year.
    Germany Fails To Advance Out Of Group Stage For First Time

    Germany Fails To Advance Out Of Group Stage For First Time

    Sweden won the group after thrashing Mexico 3-0 to also deny South Korea a spot in the knockout stages. Germany are four-time Football World Cup champions and have always cleared the group stage hurdle.

    Win over England not priority, says Belgium coach

    Marcus Rashford is expected to take Raheem Sterling's place and Dele Alli is available again after training for the past two days. We need to breed that mentality. "It just wouldn't be authentic for what we've been trying to build for the last two years".


Most liked

Revellers pour into rainy Toronto for Pride Parade
Among activists, supporters, and organisers were also celebrities to celebrate and show love to LGBTQ groups. Viewers blow confetti onto the Toronto Pride Parade below as they cheer in Toronto on June 24, 2018.

Brazil ease into last 16 with win over Serbia
An injury to Marcelo in the early ten minutes of the game was a blow but the Selacao recovered with Neymar in the tick of affairs. Ljajic stumbled to take a return pass after a charging run into Brazil's box and then fired over shortly after.

Germany out; Sweden, Mexico through
South Korea's Kim Young-Gwon scored in stoppage time to put his side in front, stunning the Germans as they pushed for a victor . Germany are now second in Group F ahead of Sweden only by the fair play rule, as they have less yellow cards as a team overall.

IOS 12 Beta 3 And Public Beta 1 Expected Release Date
It found that Android owners who switched to Apple's iPhone tended to disproportionately purchase larger Plus form factor iPhones. Just keep in mind that some of the features arriving with the latest software will require or work better on more recent models.

#PermitPatty Says She's Receiving Death Threats Since Viral Video
Meanwhile, following the outrage, one Twitter user purchased four Disneyland tickets for Jordan, her family said. News reports Alison Ettel confronted Jordan Rogers on Friday as the young girl sold the water outside her home .

Arrests in fatal stabbing of Bronx teen seen dragged on video
De Blasio called the killing a "disgusting terrible incident" and said "everyone responsible will be brought to justice". In total, sources say police have picked up five men who investigators say are all alleged gang members.

Actress Heather Locklear arrested again in Ventura County
He said deputies were called to her southern California home after a domestic dispute call at about 11pm on Sunday. Additionally, Locklear and ex-fiance Jack Wagner were ordered to appear in court in 2012 after a violent fight.

Morocco coach complains about refs, hoping to spur team
France are already through but will want to beat Denmark on Tuesday to take top spot, although a draw would also keep them clear. A draw or even a loss to already out Costa Rica can take the Swiss to the knockouts, provided Serbia also lose.

Russia Supports OPEC Plan to Lift Oil Production
Trump slapped fresh sanctions on Tehran in May and market watchers expect Iran's output to drop by a third by the end of 2018. But Falih said pro-rata quota reallocations did not have to be strict, meaning Saudi wanted to fill the gaps left by others.

Kit Harington, Rose Leslie Get Married in Scotland
Game of Thrones stars Kit Harington and Rose Leslie - who played on-screen lovers in the TV drama - are to marry in Scotland . The engagement was announced last September. "We are using local caterers, local lighting, local flowers", he said.

Dele Alli out for England against Panama as Gareth Southgate reveals squad
Dele Alli has returned to training after picking up a thigh injury in Monday's opening game in Volgograd, but is set to miss the 13:00 BST kick-off on Sunday.

'Good news, but it's not a windfall' in Washington state
We applaud state legislators who took the initiative in the 2017 Indiana General Assembly to prepare for this hoped-for decision. They instead suggested that Congress should pass legislation simplifying online sales tax to create a level playing field.

Coffins at DMZ to collect USA service members' remains from North Korea
Trump and Kim left the summit signing a document that the president described as "important" and "comprehensive". The imposed sanctions came following the cancelation of training exercises held between South Korea and the US.

First Lady Melania Trump Visits Border Detention Facility In Texas
The prosecutions had been mandatory under the administration's "zero tolerance" policy, which was unveiled in May . After a downturn a year ago , the flow of migrants from Central America and Mexico has surged since October.

France defense excels in 1-0 victory over Peru in Group C
France are unbeaten in their last eight World Cup fixtures against CONMEBOL opposition (W4 D4). Subs used: Farfan (7), Santamaria (5), Ruidiaz (5). "I don't vote for the man of the match ".