One of the world’s most popular online pharmacies, the once-aptly named drugstore.com, is selling the “drugstore” part of its business.
The Bellevue, Wash., based online store sees more growth potential in cosmetics, health, vision and beauty supplies, according to a May 5 news release, and it wants to focus on those markets. Drugstore.com also owns Beauty.com, SkinStore.com and VisionDirect.com.
The pharmacy part of its operation will be sold to BioScrip, Inc., — a specialty pharmaceutical provider — for up to $10.9 million.
Online prescription shoppers will still use the drugstore.com website for that purpose, but the sales will actually be handled by BioScrip. The sale includes a 5-year partnership agreement to this effect that addresses marketing of the DS Pharmacy portion of its site.
According to the news release, the change will give customers an expanded product offering, “robust clinical resources and greater access to third party insurance reimbursement including Medicare.”
The sale is expected to close mid-year and the final price could change subject to the pharmacy’s sales under BioScrip.
The question is, will the company still be called “drugstore.com,” and if so, what the heck for?