tiptrot.com
tiptrot.com July 18, 2018


Rapper Nas invested early in PillPack, Amazon's latest buy

29 June 2018, 02:41 | Cedric Leonard

PillPack prepackages and mails consumers pills. Pat Greenhouse The Boston Globe

PillPack prepackages and mails consumers pills.									Pat Greenhouse  The Boston Globe

Amazon.com Inc. said that it had agreed to buy online pharmacy PillPack in a deal that will further the retail giant's ambitions in health care.

PillPack has pharmacy licenses in all 50 states.

In an interview with WBUR earlier this year, TJ Parker, one of PillPack's co-founders, said retail pharmacies haven't caught up with the reality of people who take multiple medications, meaning patients do a lot of work themselves.

US stocks swung between gains and losses on Thursday, as Amazon's foray into drug retailing whipped the healthcare sector, while a rise in financial stocks for the first time in 14 days cushioned the markets. McKesson, Cardinal Health and AmerisourceBergen shares were all down after the news.

Amazon and PillPack said they expected to close the deal by the end of the year, subject to regulatory approval.

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. Those ties will give Amazon access to much of the prescription drug market in the U.S.

PillPack stands out from the crowd in both its ability to deliver to your door as well its organized and regimented packaging, often chronic medications will come in daily or weekly doses all separated out to eliminate confusion.


Its software platform, PharmacyOS, was built in-house and helps customers manage their pill intake with real-time notifications and an online dashboard. Acquiring PillPack's networks helps Amazon surmount those hurdles.

Some analysts played down the immediate threat Amazon poses.

Prescription drugs sales are largely intertwined with groceries and personal items like makeup and shampoo and Amazon already sells bulk packs of latex gloves, bed pads and syringes.

The company's backers include Accel Partners, Atlas Venture, CRV, Founder Collective, Menlo Ventures, Sherpa Ventures and Techstars.

On its own, PillPack had raised $118 million in funding from venture capital firms and has been valued at $360 million. In April, CNBC reported Walmart Inc. was in talks to buy the company for "under $1 billion", citing unnamed sources.

Pessina added that physical pharmacies "will continue to be very, very important in the future".



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