Amazon Purchases Online Pharmacy PillPack
Ready for some more healthcare news? Amazon continues to make strides to further their reach in the healthcare world by buying PillPack. PillPack is an Online pharmacy that just might make Amazon’s splash in the healthcare industry huge. What can Amazon do with its recent purchase of the online pharmacy? What is their next plan of action? How will this purchase affect insurance companies and drug benefit managers? Today, we will inform you on Amazon’s purchase and what they are up to behind the scenes.
Who Is PillPack
On June 28, Amazon announced is acquirement of the online pharmacy PillPack. PillPack delivers, organizes, and packages drugs. The company also sorts your medication by the dose, delivering it perfectly to your doorstep. With more than 40 million Americans taking more than 5 pills a day and 50% of them aren’t taking pills as prescribed, PillPack makes it easy. With this purchase, Amazon has nothing holding them back from being able to offer the same services as a normal pharmacy chain. PillPack is also already licensed to ship in 49 states giving Amazon an overarching reach.
Effects of Purchase
The purchase has already made shares of companies like Walgreens, CVS Health, and Rite Aid fall dramatically, and Thursday alone lost around 12.8 billion in market value. “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. We’re excited to see what we can do together on behalf of customers over time,” said Jeff Wilke, The Worldwide Consumer CEO for Amazon. Amazon’s now able to move into prescription drug delivery; we wonder how this might play a role in the current venture between Bezos-Buffett-Dimon.
With the venture announcing its new CEO, the purchase of PillPack on Amazon’s side, and a team ready to work, Amazon might just become the newest kid on the block with ease. Drugs stores will continue to brace for the impact Amazon will hit with, causing even more mergers in the process. Do you think Amazon’s enterance into the healthcare market is a good idea? Will it be successful? Leave a comment below and tell us what you think!