CEO TJ Parker CTO and Elliot Cohen each own “roughly 10 percent” of PillPack, according to the Chicago Tribune. The company also happens to be backed by rapper and investor Nas whose VC firm, Queensbridge Venture Partners, was an early backer, according to XXL Mag.
Read More: Amazon to buy online pharmacy PillPack
Amazon payed $1 billion for PillPack, making it one of Amazon’s largest acquisitions behind Whole Foods and Zappos.
Amazon’s largest acquisitions:
1) Whole Foods: $13.7 billion
2) Zappos: $1.2 billion
3) PillPack: $1 billion
4) Ring: $1 billion
5) Twitch: $970 million
6) Kiva Systems: $775 million pic.twitter.com/nfCYXRaQ3f— Jon Erlichman (@JonErlichman) June 28, 2018
The news that Amazon bought PillPack drove the stocks of competing pharmacy chains, and certain health insurers, down. Some have predicted that the acquisition could actually lower the cost of prescription drug prices across the market.
News that Amazon is buying PillPack has sent the stocks of other pharmacy chains and even health insurers tumbling $WBA $VCS $RAD pic.twitter.com/UVRbm1q3PL
— MarketWatch (@MarketWatch) June 28, 2018
For independent pharmacies this announcement is an opportunity, according to Drug Topics, as independents already offer conveniences services that they may have not promoted: “adherence packaging and same-day home delivery services.”
