What is Amazon’s latest business venture?

Answer: Pharmaceuticals.

by / July 2, 2018

The company — made famous by online shopping, firing rockets into space  and scaring the pants off of Netflix with its online streaming options — now has its sights set on the health-care and pharmaceutical industry. Reuters reports that the online retailer is looking to purchase PillPack, which supplies presorted prescriptions by mail.

The move could be hugely disruptive to an industry that has, up until fairly recently, required patients making a trip to a pharmacy. When the company announced the deal Thursday, the chain and drug wholesalers market lost roughly $14 billion in value, while Amazon’s value jumped more than $5 billion, according to Reuters.