In 2018, Amazon entered the online drug space with its $1 billion acquisition of PillPack. And the integration of the online pharmacy into the Amazon Pharmacy.
In 2020, digital pharmacy and drug delivery company Alto closed a $250 million Series D funding round led by SoftBank’s Vision Fund 2.
Investors have been pouring hundreds of millions of dollars into the digital pharma space.
Last year online pharmacy Capsule became a unicorn when it completed a $300 million funding round. And the company’s total valuation shot up to $1 billion.
Alex Oshmyansky, CEO of Mark Cuban Cost Plus Drug Company, issued a statement. “There are numerous bad actors in the pharmaceutical supply chain preventing patients from getting affordable medicines. The only way to ensure affordable prices get through is to vertically integrate.”
