Walgreens, CVS and Rite-Aid lose $12 billion in value after Amazon buys online pharmacy PillPack

[JonesBones]

Ok, somebody needs to stop these guys.

Shares of drugstore companies are tumbling Thursday after Amazonannounced it signed an agreement to acquire online pharmacy PillPack.

Rite Aid plunged 11 percent, Walgreens Boots Alliance sank 9 percent and CVS Health fell 8 percent, respectively. The three companies collectively lost $12.8 billion in market value on Thursday alone.

PillPack is an online pharmacy that packages, organizes and delivers presorted doses of medications. Its website says it is licensed to ship prescriptions in 49 states. In November, its CEO said it was on track to post more than $100 million in revenue for 2017.


“PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology,” Jeff Wilke, Amazon CEO Worldwide Consumer, said in a statement. “PillPack is meaningfully improving its customers’ lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier. We’re excited to see what we can do together on behalf of customers over time.”

https://www.cnbc.com/2018/06/28/wal...ter-amazon-buys-online-pharmacy-pillpack.html

 

[MadSquabbles500]

Dont own any shares in any of them, so dont care.

This doesnt really matter to anyone that does not own shares in those companies. It is disingenuous to claim Amazon needs to be stopped because share prices are dropping.

 

[lifelessheap]

Walgreens are cunts. They are so expensive. My wife had an RX filled there and we just left it and never came back.

 

[JonesBones]

Dont own any shares in any of them, so dont care.

This doesnt really matter to anyone that does not own shares in those companies. It is disingenuous to claim Amazon needs to be stopped because share prices are dropping.

What? Amazon is playing Monopoly and somebody needs to stop them. It matters to more than just shareholders. It is another sector they are putting out of business.

 

[MadSquabbles500]

What? Amazon is playing Monopoly and somebody needs to stop them. It matters to more than just shareholders.

that is a different topic though. We have anti-trust laws to deal with that. You should not bring up other companies share prices if that is your angle.

Amazon is not the only one like that.

 

[JonesBones]

that is a different topic though. We have anti-trust laws to deal with that. You should not bring up other companies share prices if that is your angle.

Amazon is not the only one like that.

It isn't a different topic at all. This is my topic and it is about Amazon's monopoly.

 

[Arkain2K]

Damn, Amazon is getting their paws in everything!

Kinda amazing that I became a customer back when they were still a bookstore.

 

[MadSquabbles500]

It isn't a different topic at all. This is my topic and it is about Amazon's monopoly.

The stock market is not why Amazon's monopoly is bad. You engage in the stock market at your own peril.

 

[Cid]

It may be that I'm Australian but does anybody else find online pharmacies delivering medications a bit sickening?

I'm not saying there aren't people that need the service but it just seems as if this just enables the pill popping culture that is synonymous with the doped up American stereotype.

I have a feeling synonymous isn't quite the right word there but it's late, I'm getting tired and not quite at my best.

On that note I just edited surface to service. I really am tired.

 

[JonesBones]

The stock market is not why Amazon's monopoly is bad. You engage in the stock market at your own peril.

It is bad because they are killing another sector, why can't you get that through your skull? The stock market is just a representation of that. The stock market is not some thing in the sky that does not touch reality. People work in these stores. Amazon pays slave wages and is expanding into everything. Say something with substance or shut the fuck up. You have causality ass fuckin backwards. It is bad, THEN the stock market reflects that. The image comes before the reflection. My fuckin God.

This isn't about shareholders of those pharmacies. It is about Amazon continuing to expand unchecked. Remove the idea of the stock market all together from your small brain and then examine it. You can't seem to be able to carry more than one thought in your head at a time.

 

[MadSquabbles500]

It is bad because they are killing another sector, why can't you get that through your skull? The stock market is just a representation of that. The stock market is not some thing in the sky that does not touch reality. People work in these stores. Amazon pays slave wages and is expanding into everything. Say something with substance or shut the fuck up. You have causality ass fuckin backwards. It is bad, THEN the stock market reflects that. The image comes before the reflection. My fuckin God.

This isn't about shareholders of those pharmacies. It is about Amazon continuing to expand unchecked. Remove the idea of the stock market all together from your small brain and then examine it. You can't seem to be able to carry more than one thought in your head at a time.

I am not saying monopoly is not bad, or that Amazon is or isnt. But there are so many reason as to why before you get to share prices. I hear this same thing all the time on MSM. They say something is bad, and they use stock prices as a followup. Obviously these outlets are catering to the day trading stay at home moms, and underemployed college grads who work dinner shift. The price is a speculation. I want to hear someone get down to the fundamental issues behind the negative speculations for once.

Ironically, when the prices of these stock market brick and mortar stores were doing great, they too were expanding unchecked just like Amazon. They put out of business, many a small mom and pop pharmacies, and essentially formed an oligopoly. Much like Home Depot and Lowes, or Walmart, and Target, or Bed Bath and Beyond, have done to their sectors. For the same reasons monopoly is bad, so is oligopoly. Of course with the scale being greater with monopoly. These oligopolies will probably just merge anyways some time in the future.

 

[LMP]

We live in an age of mega corporations. They are so large and diverse. I don't like these companies being so big and constantly merging but there ain't shit I can do about it.

 

[Cake4Breakfast]

What? Amazon is playing Monopoly and somebody needs to stop them. It matters to more than just shareholders. It is another sector they are putting out of business.

meh, WalMart is in the pharmacy business and they have put plenty of businesses out of business across America.

 

[Arkain2K]

It may be that I'm Australian but does anybody else find online pharmacies delivering medications a bit sickening?

I'm not saying there aren't people that need the service but it just seems as if this just enables the pill popping culture that is synonymous with the doped up American stereotype.

I have a feeling synonymous isn't quite the right word there but it's late, I'm getting tired and not quite at my best.

On that note I just edited surface to service. I really am tired.

Erm, you still need a legitimate doctor's prescription to order and pay for the meds online. It basically saves you the drive to the local pharmacy.

Also, most brick-and-mortar pharmacies now offer home deliveries.

 

[Lead]

What? Amazon is playing Monopoly and somebody needs to stop them. It matters to more than just shareholders. It is another sector they are putting out of business.

How are they a monopoly when we are discussing three competitors stock prices?

 

[PainIsLIfe]

What? Amazon is playing Monopoly and somebody needs to stop them. It matters to more than just shareholders. It is another sector they are putting out of business.

Rite-Aide got caught selling certain drugs below cost several years ago in an attempt to take over markets - I'm not shedding any tears for them.

 

[JDragon]

Damn, Amazon is getting their paws in everything!

Kinda amazing that I became a customer back when they were still a bookstore.

Did you ever bother to look through your buying history? It's crazy. I went from 5 orders a year to something like 60.

 

[luckyshot]

We live in an age of mega corporations. They are so large and diverse. I don't like these companies being so big and constantly merging but there ain't shit I can do about it.

I can’t wait for the 2024 election: Google vs. Amazon.

 

[Renard]

I'm confused on the logistics. Here a pharmacist manually looks over each prescription while preparing it. If there's a problem with the prescription, a drug substitution, the order was made before the previous pills were used up, etc, they call. Is an amazon minion just going to pick up the pills on the list and put it in a box? Will amazon hire pharmacists to look them over?

 

[Arkain2K]

Did you ever bother to look through your buying history? It's crazy. I went from 5 orders a year to something like 60.

I'm scared to look through it man! Especially after we signed up for Prime!

A big chunk of my online orders still come from eBay though, thanks to eBay's long-held tradition of give out 10-25% discounts during any holidays.