Pharmacy stocks are getting slammed after Amazon buys PillPack (AMZN, WBA)

29 June, 2018, 14:37 | Author: Martin Tyler
  • Above PillPack

The company said on Thursday morning it was buying online pharmacy PillPack in a deal that will instantly give Amazon a platform through which to sell pharmaceuticals.

Importantly for Amazon, PillPack already has mail-order pharmacy licenses in all 50 USA states, which could enable Amazon to expand quickly into the broader mail-order pharmacy business. The five-year-old company manages multiple prescriptions for customers by pre-sorting, packaging, and delivering drugs with a round-the-clock staff that can be contacted online or by phone.

After months of speculation that it would get into the pharmacy business, online retailer Amazon is buying a pharmacy company.

Trump warns Harley-Davidson: 'We won't forget'
A Harley-Davidson should never be built in another country-never! But Trump says the tariffs are just an excuse and that the company had existing plans to move .

Walgreens Boots Alliance, already under pressure after its third-quarter earnings report, tumbled 9.4 percent and along with UnitedHealth's 1.8 percent drop pressured the Dow Jones index. But U.S. pharmacy same-store sales fell.

PillPack delivers prescription drugs to customers' doors.

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

What was the hand gesture made by the Swiss goal scorers?
Stoke City's Xherdan Shaqiri later scored a stoppage time victor to send the Swiss second in Group E, behind Brazil. The political back-and-forth has since been addressed by Switzerland head coach Vladimir Petkovic.

The announcement comes one week after Amazon, JPMorgan Chase and Berkshire Hathaway revealed the CEO of their new healthcare tech company. CVS is buying insurer Aetna for while Cigna, another insurer, is scooping up pharmacy benefits manager Express Scripts. "And for those patients that do desire to transition, we offer the option to ship their prescriptions to their home from our pharmacies or obtain the prescriptions through our Caremark mail facilities".

Some analysts played down the immediate threat Amazon poses. 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'. It's raised more than $118 million from brand-name investors including Accel, Sherpa Capital and NY rapper Nas's Queensbridge Venture Partners. The startup has raised upwards of $120 million in funding from backers including TechStars, Menlo Ventures, and Accel.

Pessina added that physical pharmacies "will continue to be very, very important in the future". Another $3 billion in lost stock market value.

You Choose Your World Cup Team Of The Week
What's the likelihood? Argentina are 48 per cent, Nigeria 45 per cent and Iceland 7 per cent to make the next stage. Both on six points, they have identical goal totals so a draw would mean top spot going to the best-behaved team .

Recommended:



Popular

In election victory speech, Erdogan says Turkey will advance in Syria
In his victory speech, he said: "The victor of this election is each and every individual among my 81 million citizens". Ince, who complained that it was an unfair election, accepted Erdogan's victory during a news conference Monday.

FDA Approves Cannabis Based Drug
Food and Drug Administration announced Monday, June 25, that it's approved a marijuana-derived drug for the first time . LGA and Dravet syndrome develop in childhood and are rare, severe forms of epilepsy that are notoriously hard to treat.

Late-night hosts unite against President Trump
He also described the comedians, including Colbert, Jimmy Fallon and Jimmy Kimmel , as "lowlifes", "lost souls" and "terrible". He also said he had made a donation to an organisation that provides education and legal services to refugees in Trump's name.

Lakers "Racing" To Acquire Kawhi Leonard Before Friday
However, ESPN's Ramona Shelburne previously reported the Lakers felt rebuffed after their initial conversation with the Spurs. Ingram posted the same scoring average as a 20-year-old, and he might have more upside than anyone on the Lakers' roster.

NYPD IDs 1 of 5 suspects in mistaken-identity machete killing
Sources told CBS New York gang members had been arrested - six in Paterson, New Jersey, and two others in the Bronx. News of Guzman-Feliz's violent death has garnered attention nationwide, fueling the hashtag #JusticeforJunior .

Endless turmoil leaves Messi's Argentina in disarray at World Cup
Chelsea midfielder Cesc Fabregas played down the praises heaped on the performances of Cristiano Ronaldo at the world cup so far. Fabregas wanted to let people know that Ronaldo's goals have come via situations that are easier to score from.

Estimated 230000 gallons of oil spilled in Iowa train derailment
The spill reached the Rock River, which joins the Big Sioux River before merging into the Missouri River at Sioux City. Rail cars carrying crude oil are shown derailed about a mile south of Doon, Iowa, on Friday, June 22, 2018.

EU's 25% Bourbon tariff comes into force
The EU reacted to the decision of US President Donald Trump to impose duties on steel and aluminum from Europe, Canada and Mexico. In the end, we believe that the current tensions will eventually subside as the USA midterm elections in November approach.

Amazon Prime Day Will Arrive on 16th July, Says Leak
Cord Cutters News will have a special Prime Day Newsletter to full of all the best Amazon Prime Day deals. It was also the biggest sales day in Amazon's history, with sales up more than 60% year-over-year.

Mexico Proves It's No Fluke at World Cup
A second victory on Saturday gives it six points and a chance to win Group F on Wednesday when the team faces Sweden . South Korea will be eliminated if Sweden wins or draws.