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Home / Business / Amazon earns $ 1 billion in health care and buys PillPack

Amazon earns $ 1 billion in health care and buys PillPack



Amazon.com Inc. buys itself into the heart of the US healthcare system and is immediately shaking a prescription drug industry that is already in the midst of a broader transition.

Insurance companies and drug benefit managers have made a number of deals over the last few months, some of which have been designed to prevent a possible big stir in Amazon's healthcare world. But the decision of the online retail giant to buy online pharmacy PillPack quickly accelerates the risk posed to entrenched retailers, suppliers and middlemen.

Most directly, the move represents a daunting challenge for pharmacy chains, including Walgreens Boots Alliance Inc. and 1

9659005] CVS Health Corp., the two largest drugstore chains in the US Walgreens shares lost in New York at 10:49 Clock 8.5 percent, while CVS shares fell 8.9 percent.

"This offers Amazon a way to disrupt the big pharmacy They've cracked chains so that they bother booksellers, pet supplies, clothing, and other major retailers," said Lisa Bielamowicz, president of consulting firm Gist Healthcare.

According to Boston PillPack, Amazon will pay about $ 1 billion to PillPack person familiar with the matter. The transaction is expected to close in the second half of 2018, according to a statement from the companies.

The US market for prescription drugs is huge. In 2016, US consumers spent US $ 328.6 billion on retail prescription drugs, according to US government data. CVS had $ 59.5 billion in sales last year, while Walgreens sold $ 57.8 billion in fiscal 2017.

Jeff Bezos, the managing director of Amazon, has integrated his own child into the world's largest online retailer engineering and acquisitions to infiltrate a growing number of businesses. With last year's purchase of Whole Foods, he took over the $ 800 billion food industry and broke into consumer electronics with the development of the Kindle E-Reader and the Echo Voice-controlled Speaker.


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