Amazon acquires pharmacy startup PillPack; purchase price thought to be near $1b

Amazon acquires pharmacy startup PillPack; purchase price thought to be near $1b

Amazon acquires pharmacy startup PillPack; purchase price thought to be near $1b

PillPack is still a relatively small player in the pharmacy space, and it has a lot of obstacles to overcome to compete with established pharmacy giants, he said. Bloomberg reported it to be $1 billion, citing a person it said was familiar with the matter.

Amazon is pushing further into pharmacy with a deal to acquire prescription-management service PillPack.

The firm says it is 'designed to provide the best possible customer experience in the USA for people who take multiple daily prescriptions'.

Financial terms of the deal were not disclosed, but sources cited by TechCrunch peg the price at just under $1 billion. The service is available in 49 states, with its main pharmacy located in Manchester, New Hampshire.

Shares in pharmacy chains CVS Health and Walgreens Boots Alliance plunged more than 8% in early trade.

Last week, Amazon, JPMorgan Chase and Berkshire Hathaway announced Boston doctor Atul Gawande as the chief executive of the companies' new health care venture, which will be based in Boston.

"We know that we have to change the level of our services to the customers and we are working quite hard on that direction, but we are not anxious", Pessina said.

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"PillPack is meaningfully improving its customers" lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier.

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

Those companies increasingly rely on medications to bring customers into their stores.

At the time, Parker argued that the company was working to protect its monopoly on home-delivered prescriptions, which Express Scripts disputed.

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.

PillPack is already in-network with many major pharmacy benefit managers and is also in-network with most Medicare Part D plans, according to its website.

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