Amazon is buying online pharmacy PillPack, and pharmaceutical stocks are getting hit Thursday morning.

Here’s the scoreboard:

walgreens premarket stockMarketWatchPillPack is geared towards patients who take multiple daily prescriptions. “PillPack makes it simple for any customer to take the right medication at the right time, and feel healthier,” its cofounder and CEO TJ Parker said in a press release.

Jeff Wilke, CEO of Amazon’s World Wide Consumer unit, added: “PillPack’s visionary team has a combination of deep pharmacy experience and a focus on technology.”

Walgreens shareholders seem particularly nervous about Amazon’s advances into the pharmaceutical space. Just hours before Amazon announced it’s buying PillPack, Walgreens beat analyst estimates on third-quarter revenue and earnings. The company also hiked its dividend and announced a $10 billion share buyback plan.

Source: Market Insider