Published: Thu, June 28, 2018
Medicine | By Melba Vasquez

Amazon acquires PillPack, an online pharmacy that delivers medicine to your door

Amazon acquires PillPack, an online pharmacy that delivers medicine to your door

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.

Watch out, CVS and Walgreens: Amazon on Thursday announced plans to acquire PillPack for an undisclosed sum. Bloomberg reported it to be $1 billion, citing a person it said was familiar with the matter.

The deal is expected to close during the second half of 2018.

'PillPack's visionary team has a combination of deep pharmacy experience and a focus on technology, ' said Jeff Wilke, head of Amazon Worldwide Consumer.

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PillPack pre-sorts pills into date- and time-stamped packets for patients who take multiple drugs - common for older people dealing with several chronic conditions. Amazon didn't disclose the value of the deal. "We're excited to see what we can do together on behalf of customers over time".

The deal for PillPack, which organizes and delivers prescription medications, will put it in head-to-head competition against existing drug retailers and distributors such as CVS Health and Walgreens Boots Alliance. Shares of drug wholesalers McKesson Corp (MCK.N), Cardinal Health (CAH.N) and AmerisourceBergen (ABC.N) also fell sharply.

Some analysts played down the immediate threat. The company then mails the medications to patients and coordinates refills and renewals.

Parker grew up behind the counter of his father's drug store in Concord, N.H., and has spoken of his exasperation seeing customers resort to spreadsheets to figure out how to schedule and sort their medications.

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Of course, Amazon is in the midst of developing a joint healthcare venture in partnership with the CEOs of Berkshire Hathaway and JP Morgan Chase.

PillPack has raised more than $100 million in investor funding.

At the time, Parker argued that the company was working to protect its monopoly on home-delivered prescriptions, which Express Scripts disputed. Apparently Walmart was also interested in buying PillPack and was outbid by Amazon.

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