Amazon moves into the prescription drug business
by Kristen Flavin & Lynde Langdon
Posted 6/29/18, 11:38 am
Amazon announced a deal Thursday to acquire PillPack, an online pharmacy that caters to people who take multiple prescription medications each day. It delivers prescription drugs in pre-sorted dose packaging and simplifies refills and renewals. Amazon will reportedly pay about $1 billion for the company. If regulators sign off on the deal, Amazon will have a path to disrupt the pharmaceutical industry the same way it’s shaken up just about everything else in retail. News of the deal rattled Wall Street on Thursday. Stocks of major drugstore chains like Walgreens and CVS dropped sharply.
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Kristen is a field producer for The World and Everything in It.