Amazon's $1 billion purchase of PillPack wiped out 15 times that from pharmacy stocks — and it shows the outsized effect the juggernaut can have on an industry

Reuters / Brendan McDermid

• Amazon's $1 billion acquisition of pharmacy startup PillPack is the most recent in a long list of instances where Amazon has taken huge bites out of entire industries.
• Nearly $15 billion of market value was wiped out from Walgreens Boots Alliance, CVS, and Rite Aid, an outsized impact relative to the deal price.

When Amazon announced plans to buy pharmacy startup PillPack, the reckoning across the entire industry's supply chain was swift and brutal.

Drug wholesalers like Cardinal Health, AmerisourceBergen and Express Scripts experienced deep losses. Meanwhile, Walmart — another mega-cap retail with designs on entering healthcare — also saw shares fall.See the rest of the story at Business Insider

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See Also:

• Amazon's new pharmacy deal ruined a perfectly good earnings report for Walgreens
• Amazon just rocked healthcare stocks with reports it'll buy a pharmacy startup — Here are the 7 times it's panicked investors in other companies
• Amazon just bought a tiny startup most people have never heard of, and it's scaring the heck out of pharmacy shareholders

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