July 10, 2018

Amazon to Acquire Online Pharmacy PillPack for $1 Billion in Cash

Until now, one arena Amazon (NASDAQ: AMZN) has not ventured into is the prescription arena, but that will change soon. At the end of June, Amazon announced that it had agreed to purchase PillPack, an online pharmacy that sells pre-sorted doses of prescription medications through home delivery. CNBC reports the deal is valued at around $1 billion in cash. PillPack and Walmart had been in talks for months, but they had not agreed to a final offer when Amazon stepped in. Assuming the deal passes all regulatory hurdles, the deal is expected to close in the second half of 2018.