A look inside Amazon's PillPack acquisition almost a year later

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

PillPack is thriving under Amazon's wing — but the retail giant is still unlikely to pose an imminent threat to pharmacy incumbents:

tout nearly 20,000 pharmacy locations across the US — and the two fill out a combined 3.5 billion prescriptions annually. Given that its established competitors have such a broad reach — and large physical footprints — acquiring PillPack won't give Amazon an immediate leading position in the pharmacy market.

And because PillPack is such a small player, Amazon isn't likely to upend the pharmacy industry just yet. PillPack controls a tiny sliver of the pharmacy market in comparison to big-name pharmacy retailers. But while it's not likely the deal will harm already-thriving pharmacies any time soon, PillPack opens up Amazon to a new revenue stream: The average PillPack consumer was worth $5,000 in 2018, per CNBC.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's why Amazon bought PillPack to crack the $500 billion prescription marketAlmost a year after buying PillPack for $750 million, Amazon is counting on its CEO, TJ Parker, to drive an aggressive pharmacy strategy. Abdul Rasheed Quresh hashmi 03060420285
Source: CNBC - 🏆 12. / 72 Read more »

The inside story of why Amazon bought PillPack to crack the $500 billion prescription marketAlmost a year after buying PillPack for over $750 million, Amazon is counting on its CEO, TJ Parker, to drive an aggressive pharmacy strategy.
Source: CNBC - 🏆 12. / 72 Read more »

Online pharmacy PillPack was reportedly on track to make $299 million in revenue when Amazon acquired the company in a $750 million dealAt the time that Amazon acquired PillPack, the company was on track to make $299 million in annual revenue, according to CNBC. So amazon made a loss
Source: BusinessInsider - 🏆 729. / 51 Read more »

Amazon offers to help employees start delivery businessNEW YORK (AP) — Amazon, which is racing to deliver packages faster, is turning to its employees with a proposition: Quit your job and we'll help you start a business delivering Amazon packages.
Source: YahooNews - 🏆 380. / 59 Read more »