The race to harness the potential of online pharmacies is heating up, and a brand new acquisition will ensure Amazon will be a shoe-in. According to a recent article, the online retailer officially entered the pharmaceutical industry on June 28th with the acquisition of PillPack. Since its inception in 2013, Boston-based PillPack has revolutionized how people fill prescriptions by delivering medications in pre-sorted dose packaging, coordinating refills and renewals, and ensuring shipments are sent on time.
The purchase materialized amid a flurry of consolidations among brick-and-mortar pharmacy businesses. This includes CVS Health’s purchase of Aetna, Rite Aid’s attempted merger with grocery giant Albertsons, and Walgreens Boots Alliance partnering with insurers like UnitedHealth Group and Humana. It’s rumored that the company’s 32-year-old CEO, TJ Parker, will remain with the company after the deal closes.