Amazon has just entered the drug-distribution business
The move gives Amazon an immediate national drug network and represents a formidable threat to pharmacy chains.
By Robert Langreth and Zachary Tracer|June 28, 2018 at 10:38 AM
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Amazon.com Inc. agreed to buy the online pharmacy startup PillPack, jumping into the health-care business with a deal that will give the retail giant an immediate nationwide drug network.
The move represents a formidable threat to pharmacy chains including Walgreens Boots Alliance Inc., which earlier Thursday reported tepid U.S. same-store sales, and rival CVS Health Corp. Walgreens was down 10 percent at 10:18 a.m. in New York, while CVS shares shed 8.9 percent.
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