Amazon deals big pharma a quick $23.5B blow with a $1B acquisition of PillPack
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 pharmacyPillPack, 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.
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.
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.
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.
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.
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.
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.
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 .
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".
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 .
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.
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 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
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".
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".