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Amazon’s interest in the prescription drug business as ripe for disruption took a huge leap forward with Thursday’s announcement that the e-commerce giant is buying online pharmacy PillPack.
While the start-up is relatively small with about $100 million in revenue last year, it could serve as a beachhead for Amazon’s broader ambitions in health care.
Here are three major ways this could change the way Americans get their medications, according to Arielle Trzcinski, senior Forrester analyst covering health-care technology.
1. Same-day delivery through Prime
2. Amazon’s voice assistant Alexa
3. The Amazon-Berkshire Hathaway-JPMorgan health-care venture
Shares of drugstore companies Rite Aid, Walgreens Boots Alliance and CVS health all plunged Thursday after the news, losing about $12.8 billion in market value. Amazon spent just under $1 billion for PillPack, snatching the business from rival Walmart, according to TechCrunch. CNBC reported on Walmart’s interest in PillPack in April and that Amazon had also held discussions with the Boston-based start-up.