Walgreens, CVS and Rite-Aid lose $12 billion in va
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Posted On: 06/28/2018 12:59:23 PM
Walgreens, CVS and Rite-Aid lose $12 billion in value after Amazon buys online pharmacy PillPack
Summary
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 $12.8 billion in market value on Thursday alone.
https://www.cnbc.com/2018/06/28/walgreens-cvs...lpack.html
Summary
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 $12.8 billion in market value on Thursday alone.
https://www.cnbc.com/2018/06/28/walgreens-cvs...lpack.html
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