Forbes July 3, 2018
Mail-order drug company PillPack prepackages consumers’ pills for daily or hourly.
After rumors beleaguering the Health Care sector for months, Amazon finally made its first sizeable play in the space. The Seattle-based online retail giant acquired PillPack, an online pharmacy, for just under $1 billion. The move wiped billions off of the market capitalizations of drug store operators CVS Health and Walgreens Boots Alliance and drug distributors McKesson and Cardinal Health. We think the plunges, some of which were around 10%, were overdone.
If it seems like déjà vu, it mostly is. Late last year, the sector had a very similar scare that sent shares plunging. At the time, we found McKesson CEO John Hammergren’s comments very pertinent, and we...
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