By Paul R. La Monica, CNN Money
Amazon is buying online pharmacy PillPack — a move that could disrupt the drug store business.
PillPack has pharmacy licenses in all 50 states. The company delivers medications to customers in pre-sorted doses designed to make it easier for people to take multiple medications a day.
Amazon has widely expected to move into the pharmacy business.
The PillPack deal is scaring investors in the top two drugstore chains.
CVS fell 8% in early trading. Walgreens Boots Alliance, the newest Dow component, plunged nearly 10%. Walgreens was already trading lower after reporting in its latest earnings report that same-store sales in its US pharmacy business fell.