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Photo: Pat Greenhouse/The Boston Globe via Getty Images

Amazon has agreed to acquire Boston-based online pharmacy PillPack, which had previously been in takeover talks with Walmart.

Our thought bubble, via Axios tech editor Scott Rosenberg: Amazon's entry into the prescription market is a natural follow-on to its move (with Warren Buffett and JP Morgan Chase) into the broader healthcare field. But while that high-profile effort seems to be aimed, at least for now, at its own workforce, this acquisition is more likely to make big waves sooner in the competitive and huge drug market.

  • The deal with PillPack could disrupt the U.S. drugstore business. The online pharmacy offers pre-sorted doses of medications precisely timed with home delivery.

The details:

  • Pillpack had raised over $110 million in funding, most recently at around a $360 million valuation, from firms like Accel, Accomplice, CRV, Pillar Cos, Astral Capital and Sherpa Capital.
  • Not surprisingly, shares of Walgreens and CVS are plunging with the news.
  • The transaction will be complete by the end of 2018.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Fall and winter COVID surge "unlikely" if people get vaccinated.
  2. Politics: School boards are the next political battleground.
  3. Vaccines: Pfizer begins application for full FDA vaccine approval — Moderna says its COVID booster shot shows promise against variants.
  4. Economy: U.S. adds just 266,000 jobs in April, far below expectations.
  5. World: Asia faces massive new COVID surgeIndia records its deadliest day of the pandemic.
  6. Variant tracker: Where different strains are spreading.

Kevin McCarthy officially endorses Elise Stefanik to replace Liz Cheney

House Minority Leader Kevin McCarthy. Photo: Win McNamee/Getty Images

House Minority Leader Kevin McCarthy (R-Calif.) officially endorsed Rep. Elise Stefanik (R-N.Y.) to become the GOP's next House Republican conference chair during a Fox News appearance Sunday.

Why it matters: The GOP has been feuding internally over the fate of the current chair, Rep. Liz Cheney (R-Wyo.), because of her criticisms of former President Donald Trump, and her vote to impeach him for his role in the Jan. 6 Capitol riot.

Fauci: Vaccines could turn COVID-19 "surges" into "blips"

NIAID director Anthony Fauci told "Meet the Press" Sunday that if more Americans get vaccinated in accordance with the Biden administration's goals, COVID-19 surges may be replaced by "blips."

State of play: Last week President Joe Biden announced his goal to get 160 million Americans fully vaccinated by July 4, with at least 70% of Americans having at least one shot.