Amazon is acquiring PillPack, an online pharmacy licensed to sell prescription drugs in all USA states, excluding Hawaii.
TJ Parker, PillPack co-founder and Chief Executive Officer also issued a statement saying; "PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier". It's not clear yet what Amazon plans to do with the new business, including whether it will allow the firm to remain independent (as with shoe retailer Zappos) or turn it into the foundation of a bigger health-care push, reportsCNNMoney. Stefano Pessina, the boss of Walgreens Boots Alliance, admitted: 'Yes, it is a declaration of intent from Amazon'. McKesson, Cardinal Health and AmerisourceBergen shares were all down after the news.
PillPack, meanwhile, is already licensed to deliver medications to all 50 USA states, helping Amazon clear the regulatory hurdles that might have complicated its foray into the prescription drug industry.
Subject to the usual regulatory approvals and closing conditions, Amazon and Pillpack have said that they expect the deal to close during the second half of this year. "We're excited to see what we can do together on behalf of customers over time", said Wilke. After Amazon's acquisition, Walmart lost 1 percent of its value. PillPack is licensed to ship prescriptions in all 50 states and uses a homegrown system called PharmacyOS to manage the logistics.
Now, in an acquisition that could upend the pharmacy market, the retail giant has made its move.
Walgreens bought some of Rite Aid Corp's USA stores a year ago after scrapping its deal to buy the smaller rival outright. Even if PillPack is a network provider today, it does not mean it will be a network provider in the future, especially if Amazon has designs of significantly ramping its prescription volume'.
Tourist dead, 10 injured after boat explodes in the Bahamas
One American tourist was killed in the explosion, while two others are said to be in critical condition at a Bahamian hospital. Sisters Stefanie and Brooke Schaffer were on board with their parents, Stacey and Paul Bender , at the time of the blast.
Predicting where the top 10 free agents will land
Leonard isn't a free agent but he has been holding out from the Spurs and it's no secret both he and the team want a trade. LeBron isn't the only person heading to a new team and in fact, there are a lot of star players available this summer.
Trump wants US to withdraw from WTO
United States tariffs on $34 billion of Chinese goods are set to take effect on 6 July and a further $16 billion could follow. According to sources with direct knowledge, Trump remains unmoved by arguments that the U.S. has done well at the WTO .