Amazon's (AMZN) PillPack Acquisition Is The Foothold Into Healthcare - Deutsche Bank
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Deutsche Bank analyst, Lloyd Walmsley,reiterated his Buy raitng on shares of Amazon.com (NASDAQ: AMZN) on the belief that the ~$1B acquisition of PillPack (pharmacy licenses in 49 states) could accelerate Amazon's move into healthcare more broadly, increasing the value of the Prime service and overall consumer wallet share. Today, PillPack delivers pre packaged medications, coordinates refills and renewals, and makes sure shipments are sent on time.
The analyst stated "We see Amazon likely to expand this effort to helping customers more holistically manage health, using prescription information to help educate customers on their conditions and merchandise over-the-counter medicine, healthcare supplies and healthy food to customers and to sell advertising. Amazon is further looking at healthcare through its JV with Berkshire
Hathaway and JP Morgan, which just hired a COO. Amazon has a history of starting small, testing the market and fine-tuning the service, before launching a full fledged commercial operations. As such, we believe it is a question of when and where – and not if – Amazon enters the healthcare space more forcefully".
No change to the price target of $2,300.
Shares of Amazon.com closed at $1933.00 yesterday.
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