Amazon to buy Somerville online pharmacy startup PillPack

Amazon to buy Somerville online pharmacy startup PillPack

Amazon said on Thursday that it would buy online pharmacy PillPack for an undisclosed amount, sending shares of drug distributors and drug retailers down.

PillPack delivers prescription drugs to customers' doors.

The deal comes as the health care industry is undergoing a series of convulsions in response to rising costs and pressure on drug makers, pharmacy benefit managers, and insurers.

Watch Walgreens, CVS, and Rite Aid trade here.

"We want to help them continue making it easy for people to save time, simplify their lives, and feel healthier".

He added this "is only the first play" in an increasingly aggressive strategy by Amazon for a much more significant role in pharmacy.

"Amazon's acquisition of PillPack is a warning shot in what is about to become a major battle within the pharmacy space", said Neil Saunders, managing director of GlobalData Retail. "We're excited to see what we can do together on behalf of customers over time".

The startup has raised north of $120 million in funding from big-name backers that include TechStars, Menlo Ventures, and Accel.

PillPack, which is aimed at consumers who take multiple medications, presorts customers' prescriptions and helps manage refills and shipping.

It expects to complete the deal in the second half of the year.

Seattle-based Amazon, which began two decades ago as an online bookseller, has mushroomed into one of the world's largest companies.

Amazon is pushing further into pharmacy with a deal to acquire prescription-management service PillPack. Also on Thursday, Amazon announced a new program that will partner with outside entrepreneurs to create a last-mile delivery system for Amazon packages, effectively creating an alternative to UPS or FedEx.

"Over time, Amazon will empower hundreds of new, small business owners to hire tens of thousands of delivery drivers across the USA".



Related Posts

Cent faces backlash for mocking Terry Crews
To laugh and make jokes about such a serious matter is one of the main reasons why sexual assault victims are afraid to speak up. Terry: "l froze in fear, they would have had to take me to jail. get the strap".

Kremlin aide says time, place for Putin-Trump summit set
Interested in Donald Trump? "I think (Trump) is going to raise the full range of issues between the two countries", Bolton said. The Kremlin issued a vague statement about Putin's meeting with Bolton, saying only that officials were "satisfied".

Sony Are 'Looking At' Cross-Play 'Possibilities'
To recap, the Fortnite PS4 issue gained steam when Fortnite launched on the Nintendo Switch. Sony will let those on its network play games with PC and mobile players, but nobody else.

A Six-Figure Salary Is NOT 'Low Income' in San Francisco
The Bay Area has led the country in housing prices while simultaneously experiencing a dramatic shortage of affordable housing. For comparison, $83,450 is the upper limit at which a four-person household in New York City can apply for low-income housing.

How to read Turkey's election results | Comment
The vote has also ushered in an executive presidency system giving Mr Erdogan sweeping new powers. Turnout was high at nearly 87%, the state broadcaster reported .

Southgate set to make eight changes to England side against Belgium
If you do not play to win, you are cheating your opponents, deceiving those who are watching, and also fooling yourself. If they are still tied after that, the victor will be determined by the drawing of lots.

Asus Zenfone 5z to launch in India on July 4 on Flipkart
It is the same chipset that also powers the OnePlus 6, which starts at Rs 34999 in India with 6GB RAM and 64GB internal storage. The device will sport 4GB, 6GB and 8GB RAM configurations and comes with 64GB, 128GB and 256GB storage variants.

Jones looking forward to Premier League-style clash with Belgium
But coach Gareth Southgate said his team are focused on winning, not on plotting a particular route through the knockout stages. Group G at the World Cup is almost all but decided. "There's no teams that we have been impressed with".

West Nile found in Winnipeg mosquitoes for 1st time this season
Mosquitoes trapped on the South Shore of MA have been confirmed carriers of West Nile virus , health officials said. Symptoms that may be present are: high fever, headache, neck stiffness, muscle weakness or paralysis, and confusion.

Colombia - World Cup - 28 June 2018
Juan Cuadrado believes that Senegal will provide stern opposition for Colombia in their final World Cup Group H game on Thursday. Japan and Senegal are both on four points with Senegal on three - so any two of that trio can advance depending on results.

© 2015 ExpressNewsline. All Rights reserved.