The pharma market took notice when Amazon made headlines recently after acquiring online pharmacy PillPack for a reported $1 billion. While the acquisition isn’t huge considering Amazon’s size or the revenues earned by PillPack last year ($100 million), the stocks of pharmacy chains including Rite Aid, Walgreens Boots Alliance and CVS Health dropped 8% to 10% on the day the deal was announced. This news wiped out nearly $13 billion in market cap from companies in the pharmacy sector.

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