Thursday, 20 September, 2018

Amazon is buying PillPack

Amazon acquires online pharmacy PillPack, reports peg deal at nearly $1B Amazon deals big pharma a quick $23.5B blow with a $1B acquisition of PillPack
Anna Jefferson | 03 July, 2018, 00:45

Amazon has always been rumoured to be interested in the pharmacy business, and its entry could disrupt a business dominated by large American chains such as CVS and Walgreens.

Amazon.com Inc said on Thursday it would buy small online pharmacy PillPack, a move that will put the world's biggest online retailer in direct competition with drugstore chains, drug distributors and pharmacy benefit managers.

While few details have been released regarding the acquisition, Amazon states that it has entered into a definitive merger agreement under which Amazon will acquire PillPack, which was previously in talks with Walmart (WMT) that had the startup valued just shy of $1 billion.

The online pharmacy also coordinates refills and ships prescriptions to customers' homes.

The deal seems to have spooked shareholders of major pharmacy stocks, like Rite Aid (-11.11%), Walgreens Boot Alliance (-10.5%) and CVS (-7.8%), all of which together lost more than $12.8 billion in market value on Thursday.

"This is the beginning of the pharmacy industry shakeout".

CVS shares tumbled 8.6% in pre-market trade on the news, while Walgreens slumped 8.5%.

Neymar shines as Brazil beat Mexico 2-0 to reach quarter-finals
But he promised an attacking approach from his side, who finished second in Group F thanks to wins over Germany and South Korea. If you're unfamiliar with soccer - Brazilian soccer in particular - you likely were very concerned for Neymar's safety Monday.

Roseanne Barr Says She Has Already Offers To Come Back To TV
She will also have no financial involvement, despite being a cocreator of the original characters. After she posted the since-deleted tweet, she was sacked on May 29.

Hot-putting Woods shoots 65 to sit four off lead
Armour (65) and Gay (64) each made short birdies on the par-3 ninth hole to finish their rounds and tie for the lead. All the attention was on Woods, who had hoped a mallet-style putter might help him shake out of a putting slump.

PillPack, which launched in 2014, is available in every USA state except Hawaii.

TJ Parker, PillPack co-founder and Chief Executive Officer also issued a statement saying; "PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier". Shares of drug wholesalers McKesson Corp, Cardinal Health and AmerisourceBergen all fell. Insiders reportedly said Amazon will pay $1 billion for the company.

Amazon's acquisition of PillPack follows a larger-though less defined-move into the healthcare sector for the online giant.

"Longer term, Amazon will become a key player in health care, but the timeline is likely longer than most expected, given last-mile delivery infrastructure needs to scale first".

Some analysts played down the immediate threat.

PillPack has a license to operate in all 50 states in the USA and has other accreeditations such as URAC AND VIPPS, but it doesn't seem to be operational in worldwide markets. Earlier this year, the technology giant announced its move into USA employee health care via a partnership with Berkshire Hathaway and JPMorgan, while reports have been surfacing for a while that it was looking to enter the lucrative pharmaceutical realm.

Recommended

  • Hotel mattress blamed for Marcelo's back injury at World Cup

    Hotel mattress blamed for Marcelo's back injury at World Cup

    Tite said he is seeking a similar performance from his team to the one that saw them account for Serbia. Marcelo has missed games for Real Madrid due to muscle problems in both of the last two seasons.
    LeBron James Speaks to Cleveland GM as Free Agency Opens

    LeBron James Speaks to Cleveland GM as Free Agency Opens

    Last season, he averaged 13.4 points, 5.2 rebounds and 2.2 assists per game and shot 38.3 percent from beyond the arc. It's just that he might have to take a different path to get there and shape his narrative a different way.

    European Union warns Trump: auto tariffs could lead to $300B retaliation

    This would only be aggravated by the likely counter-measures the 28-nation bloc and other trading partners might take. The EU said the USA auto industry is in good health, but any restrictive duties could undermine that trend.
  • Trump says his U.S. Supreme Court pick will be 'outstanding'

    The nominee will express respect for honoring precedent, no doubt and dodge questions about specific cases like Roe . Orrin Hatch, a Utah Republican and former Judiciary Committee chairman.
    These 3 NBA Stars Will All Be Lakers Targets In 2019

    These 3 NBA Stars Will All Be Lakers Targets In 2019

    The basketball star was also welcomed to LA Lakers by star footballer Zlatan Ibrahimovic on Twitter , who plays for LA Galaxy. Clint Capela and others with six years or less in the league can make a max salary of $25.25 million for the 2018-19 season.

    Donald Trump says Saudis must compensate for drop in Iran oil supply

    Iran is among the nations with the highest oil serves, along with Saudi Arabia, which is the world's leading exporter of oil. That's what we're doing, absolutely", he said.
  • Japanese refiners boost US  crude purchases as Iran sanctions loom

    Japanese refiners boost US crude purchases as Iran sanctions loom

    Greg McKenna, chief market strategist at futures brokerage AxiTrader said this week's crude price rises had "exhausted the bulls". Trump's tweet, however, mentioned no time frame for the additional 2 million barrels - whether it meant per day or per month.
    'We Won't Forget Being Called An Enemy Of The People'

    'We Won't Forget Being Called An Enemy Of The People'

    Three minutes before the shooting , he tweeted an obscenity at a judge who had rejected his defamation suit against the paper. Top, from left, John McNamara and Wendi Winters; bottom, from left, Rob Hiaasen , Gerald Fischman and Rebecca Smith .
    Lipstick Worn by Alexandria Ocasio-Cortez During Debate Sells Out

    Lipstick Worn by Alexandria Ocasio-Cortez During Debate Sells Out

    Fellow conservative commentator Beck retweeted O'Reilly's comment, adding that he believes Ocasio-Cortez seems "genuine". In a two-part defense, Ocasio-Cortez shot back at Cardillo and told him to "Try Google".
  • Top French criminal Redoine Faid escapes prison by helicopter

    Before that incident, Faid had been released from prison after convincing the parole board that he renounced his criminal past. In his 2013 jailbreak, he briefly took four guards hostage with a pistol before escaping in a waiting getaway vehicle .
    Re Susan Collins' comment on Supreme Court appointment

    Re Susan Collins' comment on Supreme Court appointment

    President Donald Trump said he "probably won't" ask potential Supreme Court nominees about whether they would overturn Roe v. The senator said she was "glad to hear" five additional names had been added to the list.
    Axios: Trump privately says he wants to withdraw from WTO

    Axios: Trump privately says he wants to withdraw from WTO

    Trump has long criticized the WTO for allowing countries such as China to levy high tariffs on U.S. goods such as cars, even as its economy has matured.

LeBron James: Basketball star agrees to join Los Angeles Lakers LeBron James: Basketball star agrees to join Los Angeles Lakers The Cavs are now faced with a roster that has more than $102 million in guaranteed contracts, and little chance to contend. He chose to be a Laker for what will probably be the four last great years of his career to win championships.

Struggling smartphone maker HTC to slash 1500 jobs in Taiwan HTC's share price has plummeted 90 per cent since its 2011 heyday following massive drops in revenue in for the past three years. The one bright light may be its Vive virtual reality headset.

Teen Soccer Players, Who'd Been Trapped in Thailand Caves, Are Found Alive Teen Soccer Players, Who'd Been Trapped in Thailand Caves, Are Found Alive Dive teams are working around the clock, including the Thai Navy SEALs and experts from the US, China, Australia and the UK. Other efforts have focused on finding shafts on the mountainside that might serve as a back door to the blocked-off areas.

Harry Kane says he can score in every World Cup game Harry Kane says he can score in every World Cup game The former England worldwide has also backed Tottenham midfielder Alli to star for the Three Lions tomorrow. Sweden or Switzerland await in the quarterfinals. "For us, it is game by game, and see where it takes us".

Belgium beat Japan at the death in last 16 thriller Belgium beat Japan at the death in last 16 thriller Belgium will be on the top of their confidence level and will look to show their full potential against Japan today. Belgium very almost responded instantly, with Eden Hazard rocketing a shot off the post just after the reset.

US aims to reduce Iran’s oil revenue to zero Trump threatened in an interview that aired on Sunday to put sanctions on European companies that do business with Iran . "Iran. Iran is their big enemy, so they are going to have to do it", Trump said.

Kids rescued from Thai cave Rescuers searching for 12 missing boys and their football coach say they have all been found alive, officials in Thailand have said.

Cavani hopes to be fit Cavani hopes to be fit Argentina lost to France in a seven-goal thriller which saw 19-year-old Kylian Mbappe score a brace in the match as it ended 4-3. As a teammate, I hope so because he helps us so much".

Sokratis Papastathopoulos: New Arsenal signing reveals how you pronounce his name Sokratis Papastathopoulos: New Arsenal signing reveals how you pronounce his name Sokratis Papastathopoulos has completed his move to Arsenal from Borussia Dortmund . I feel very good. "I am very happy", Sokratis told the club website .

European Union leaders defend migration deal as doubts emerge European Union  leaders defend migration deal as doubts emerge The NGOs that operate in the Mediterranean in order to rescue migrants were furious at the deal. The agreements struck by Merkel could placate the hardline rebels in her government.

Celtics Urged To Trade Kyrie Irving For Spurs' Kawhi Leonard Celtics Urged To Trade Kyrie Irving For Spurs' Kawhi Leonard LeBron isn't the only person heading to a new team and in fact, there are a lot of star players available this summer. It had been said previously that Kawhi wants to be traded and his preferred destination is the Lakers.

Prince William visits Al-Aqsa Mosque compound Prince William visits Al-Aqsa Mosque compound It also reported that Gaza youths have invented flaming balloons which they could fly into Gaza periphery settlements. Abdullah reportedly said that unveiling the plan without coordinating with the Palestinians would be a "catastrophe".

Kawhi Leonard committed to playing for Lakers after LeBron signing Kawhi Leonard committed to playing for Lakers after LeBron signing Caldwell-Pope, who's represented by the same agent as LeBron, spent last season in L.A. and will re-sign on a $12 million deal. Love was the third wheel in Cleveland behind Kyrie Irving before moving up to playing second fiddle this year.

Trump’s tariffs could mean U.S. job losses, warns General Motors Trump’s tariffs could mean U.S.  job losses, warns General Motors German automakers are said to be urging the Trump administration and the European Union to set vehicle tariffs to 0%. Mr Trump asked the department to determine the effect of imports of cars and auto parts on national security.

Michael Cohen 'loyal to family and US' over Donald Trump Michael Cohen 'loyal to family and US' over Donald Trump Asked what he will do if Trump and allies try to discredit him, Cohen replied, "I will not be a punching bag as part of anyone's defense strategy.