The new branding has changed from “PillPack, an Amazon company” to “PillPack by Amazon Pharmacy.”
PillPack has pharmacy licenses in all 50 US states and fills prescriptions for customers in pre-sorted single-dose packs with all their necessary pills. The packs include the date and time at which the pills should be taken, a format that makes it easier for customers to take multiple medications a day.
The pharmaceutical industry is worth hundreds of billions of dollars and Amazon competitors Walmart (WMT), Costco (COST) and Target (TGT) all have in-store pharmacies. Amazon, which has physical stores in select cities and also owns Whole Foods, doesn’t currently have in-store pharmacies.
But the e-commerce giant has been exploring other avenues for expansion into healthcare beyond the reported $753 million it paid for PillPack.
Amazon is a partner in a joint venture with Berkshire Hathaway (BRKA) and JPMorgan Chase (JPM) called Haven, which is focused on lowering healthcare costs and improving care.
In 2018, Amazon hired star cardiologist Maulik Majmudar as its chief medical officer and it already offers a line of private label, over-the-counter medicines and an array of medical supplies to doctors, dentists and hospitals. It’s also working on developing employee health clinics, according to CNBC.