- Amazon just signaled its intent to get into the pharmaceutical business through the acquisition of a startup called PillPack.
- The deal came just a few months after Walmart was reported to be thinking of buying PillPack. Walmart lost about $3 billion in market cap on Thursday after Amazon announced it had bought the pharmacy startup.
- That impact to Walmart's valuation over a reported $1 billion deal shows how intense the rivalry between the two retail giants has gotten.
Amazon threw the entire pharmacy industry into a tizzy last week when it announced its plans to acquire PillPack, a small startup that mails prescriptions to people who take multiple medications.
Among the companies hit: chief rival Walmart, which lost about $3 billion in market cap after the deal was announced.
See the rest of the story at Business Insider
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