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What Analysts Are Saying About the Amazon, Berkshire, JPMorgan Health Deal

  • Analysts see partnership as “noise” for health services firms
  • Announcement is “tailor-made” to spoil investor sentiment
Bloomberg business news

Amazon Health-Care Venture 'Brilliant,' Kirkpatrick Says

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Health-care stocks from Express Scripts Holding Co. to CVS Health Corp. were roiled by news that Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. were entering the space to aid their workers and cut costs. The “Amazon boogie-man” hit pharmacy benefit managers and insurers the hardest as the news spoiled investor sentiment. However, the group’s decision is “more bark than bite at this point,” Cantor Fitzgerald analyst Steven Halper wrote in a note.