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Walmart is getting more into home-delivered medications. Photo: Al Bello/Getty Images

Walmart has acquired CareZone, an app-based company that helps coordinate the delivery of people's medications. CNBC reported the deal was worth around $200 million.

Why it matters: Walmart now has the technology to mail prescription drugs to customers' homes or to arrange more pickups at its own pharmacies, which makes the retail giant more competitive in the multi-billion-dollar business of drug delivery.

Between the lines: CareZone essentially operates as an Uber for prescription medications. It acts as an agent, through an app, to get drugs for its 3.6 million users.

  • Walmart's massive footprint could grow the app as well as its lucrative pharmacy business.
  • "The world has moved to home delivery," CareZone CEO Jonathan Schwartz said.

The big picture: Pharmacy benefit managers control a lot of the mail-order business, but that is changing now, with Amazon buying PillPack in 2018 and Walmart buying CareZone.

Worth noting: Express Scripts and CareZone are still locked in a legal battle, with Express Scripts alleging CareZone doesn't have proper licensure and CareZone alleging Express Scripts is engaging in anticompetitive behavior. The case is slated to go to trial when the courts reopen.

Go deeper: People are filling more prescriptions by mail amid coronavirus crisis

Go deeper

Dan Primack, author of Pro Rata
Aug 27, 2020 - Economy & Business

Microsoft working with Walmart on TikTok deal

Illustration: Aïda Amer/Axios

Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.

The state of play: The idea would be to help turn TikTok U.S. into more of an e-commerce app for creators and users, much like what TikTok parent company ByteDance does with a similar app in China.

1 hour ago - World

Biden seeks to reboot U.S. sanctions policy

Sanctions increased under Obama and dramatically under Trump. Photo: Tom Williams/CQ Roll Call

The Biden administration is rethinking the U.S. approach to sanctions after four years of Donald Trump imposing and escalating them.

The big picture: Sanctions are among the most powerful tools the U.S. has to influence its adversaries’ behavior without using force. But they frequently fail to bring down regimes or moderate their behavior, and they can increase the suffering of civilians and resentment of the U.S.

1 hour ago - World

Merkel's farewell spoiled by Poland crisis at EU summit

One last awkward EU "family photo." Photo: John Thys/AFP via Getty Images

Angela Merkel took up her vaunted mantle as Europe's crisis manager for what could be the last time tonight, as she urged the EU to find compromise in its showdown with Poland.

Why it matters: The European Commission has threatened to withhold over $40 billion in pandemic recovery funds after Poland's constitutional tribunal — stacked with loyalists from the ruling right-wing populist party — rejected the principle that EU law has primacy over national law.