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Walgreens, CVS And Rite-Aid Lose $11 Billion In Value After Amazon Buys Online Pharmacy PillPack

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Walgreens, CVS and Rite-Aid lose $11 billion in value

after Amazon buys online pharmacy PillPack:

  • Shares of Walgreens Boots Alliance, CVS Health and Rite Aid plunge as investors worry a new deal by Amazon to acquire online pharmacy PillPack will disrupt the drugstore market.
  • PillPack is licensed to ship prescriptions in 49 states and likely booked more than $100 million in revenue last year.
  • The three pharmacy stocks collectively lost $11 billion in market value on Thursday alone.

 

Published 8:43 AM ET Thu, 28 June 2018  Updated 5:22 PM ET Thu, 28 June 2018/CNBC.com

 

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https://www.cnbc.com/2018/06/28/walgreens-cvs-shares-tank-after-amazon-buys-online-pharmacy-pillpack.html

 

 

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