Watch Out Pharma, Amazon’s Moving In
Published October 20, 2022
Amazon is best known for its wide range of products and fast shipping, but did you know that they’re gearing up to break into the pharmaceutical industry?
Since 2018, the multibillion-dollar company has quietly acquired healthcare and pharmaceutical companies, starting with the nearly one-billion-dollar purchase of PillPack. PillPack, now known as PillPack by Amazon Pharmacy, is an online pharmacy that ships prescription medications right to customers’ doorsteps. For immunocompromised patients and patients who don’t like waiting in long lines at the pharmacy, receiving their medications in the mail is a game changer. Coupled with Amazon Prime’s next-day shipping, this new service is making waves throughout the industry.
Another new endeavor is Amazon’s stealth lab. It’s called 1492, and the assumed focus is innovating healthcare technology in relation to customer data mining. Not much is known about 1492, but given Amazon’s history, it’s likely it will change the way we think about healthcare.
In July 2022, Amazon announced its acquisition of OneMedical, a completely virtual primary care company. Through OneMedical, patients can schedule same-day appointments with healthcare providers in their area, renew prescriptions, and receive 24/7 care through video chat and messaging. With this deal, Amazon could become a one-stop shop for nearly every medical need.
As Amazon moves into the pharma industry, smaller healthcare companies must innovate, and quickly, to stay competitive. One big question remains: what will they come out with next?
- O’Donovan, Caroline. (2022, September 4). Amazon Care is dead, but the tech’s giant’s health-care ambitions live on. The Washington Post. https://www.washingtonpost.com/technology/2022/09/04/amazon-care-health-one-medical/.
- Turea, Marina. (2021, August 9). 6 Ways Amazon Plans to Disrupt the Pharmacy Business. Healthcare Weekly. https://healthcareweekly.com/amazon-pharmacy/.
- Ahmad, N., Brady, A. & Majeeduddin, S. (n.d). How Amazon Could Revolutionize Healthcare. Huron. https://www.huronconsultinggroup.com/insights/amazon-revolutionize-healthcare.