Affected by this news, Walgreens Boots Alliance shares tumbled nearly 10% in today's pre-market trading, while CVS Health shares also fell nearly 9%.
Amazon and PillPack did not disclose terms such as the transaction amount in the statement. The two companies expect the transaction to be completed in the second half of this year.
PillPack is committed to providing consumers with convenient online drug purchasing services and distribution, and has now obtained all 50 licenses in the United States. Analysts said that after the acquisition of PillPack, Amazon could further expand its drug mailing business in the future and compete for the pharmacy market share.
In April this year, there were reports that Amazon competitor Wal-Mart is seeking to acquire PillPack for less than US$1 billion. PillPack can help consumers get drugs more easily, which is at the heart of Wal-Mart and Amazon.
Prior to the purchase of PillPack, Amazon had teamed up with Berkshire Hathaway and JPMorgan Chase to reduce medical costs for employees. In addition, Amazon has set up a team within the company to explore business opportunities in the pharmaceutical supply chain, which is worth $3 trillion.
Earlier this year, Amazon and Wal-Mart also competed to acquire Flipkart, the largest e-commerce platform in India. In the end, Wal-Mart bought 77% of Flipkart for $16 billion. Then there are reports that Amazon plans to invest an additional 2 billion U.S. dollars in the Indian market, which will bring the total investment to about 7 billion U.S. dollars.