Deals
Amazon Makes $1 Billion Splash in Health Care, Buying PillPack
- Shares of drug retailers and pharmacy-benefit managers swoon
- Deal likely to hasten wider shakeout in the drug supply chain
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Amazon.com Inc. is buying its way into the heart of the U.S. health-care system, instantly shaking up a prescription-drug industry already in the midst of a broader transformation.
Insurance companies and drug-benefit managers have struck a series of deals in recent months designed in part to thwart a potential big splash in the health world from Amazon. But the online retail giant’s decision to buy online pharmacy PillPack rapidly accelerates the threat posed to entrenched retailers, suppliers and middlemen.