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Amazon.com Inc. said Thursday that it would purchase the small online pharmacy PillPack, a move that will put the world's largest retailer in direct competition with drugstore chains, drug distributors and drug managers. pharmaceutical benefits.
disrupting key players in the nationwide drug supply chain caused a sell-off of potential future rivals, while sending its own shares up 2 percent.
PillPack provides pre-sorted prescription drugs and other services for people taking multiple medications, a growing market as the US population ages and requires treatment for many people. complex chronic diseases.
Bloomberg reported it to $ 1 billion, citing a person who said he was aware of the case.
The ad cost $ 19 billion in stock losses at drugstores and medical wholesalers on Thursday, while Amazon gained about $ 5.2 billion. 19659002] CVS Health shares were down nearly 8 percent, while Walgreen Boots Alliance fell 10 percent. Shares of drug wholesalers McKesson Corp., Cardinal Health and AmerisourceBergen also fell sharply.
The news comes just a week after an Amazon joint venture, Berkshire Hathaway Inc. and JPMorgan Chase & Co appointed a CEO who will be responsible for dramatically reducing health care.
Although brick and mortar stores can feel the effects of Amazon's competition, the biggest battles will likely be delivered by mail order pharmacies, which typically serve patients with chronic diseases such as than heart disease.
Some of the largest mail-order pharmacies are controlled by drug benefit managers, such as Express Scripts and CVS, who provide financial and other incentives to patients to fill prescriptions with them.
"The acquisition of PillPack by Amazon is a warning shot in what is fast becoming a major battle in the pharmacy space," said Neil Saunders, direct director Stefano Pessina, CEO of Walgreens, said at a conference call after publishing quarterly results that he was "not particularly worried" about the PillPack contract, describing it as a "tax return". "intention" of Amazon. "The world of pharmacy is a lot more complex than just delivering some pills or packs," said Pessina.
Some badysts have downplayed the immediate threat. "
" We do not worry about the entry of Amazon in the world. Prescription drug market, "said Cantor Fitzgerald's badyst, Steven Halper, in a note. "Pharmacies are controlled by managed care companies and pharmacy managers with captive captive control capabilities."
PillPack holds pharmacy licenses in all 50 states and is licensed to ship in 49 states. D plans
The company had aroused the interest of Walmart Inc., which was looking to buy it for less than $ 1 billion, CNBC reported in April. The PillPack transaction is expected to close in the second half of 2018.
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