Walgreens Boots Alliance on Thursday reported that third-quarter earnings jumped more than 15%. But its stock price fell more than 9% after Amazon announced it's buying PillPack, an online pharmacy that delivers prescriptions.
The Detroit Medical Center has sold its retail and outpatient pharmacies to Walgreens Co. as part of a pharmacy reorganization. The deal encompasses seven specialty pharmacy sites and one mail-order business, Crain's has learned.
Providers should not expect to see lower drug prices from a potential Walgreens Boots Alliance and AmerisourceBergen Corp. deal, analysts say.
Walgreens will close about 600 stores, mostly Rite Aid locations, beginning next spring as it starts integrating stores purchased from the rival with its own locations.
Walgreens Boots Alliance is poised to revise its agreement to buy individual Rite Aid Corp. stores, a move that may be enough to resolve outstanding antitrust concerns and clinch U.S. approval for a deal the companies have been pursuing in different forms for two years.
As healthcare companies rush to bulk up via mergers and acquisitions, they're almost always hit with shareholder lawsuits. Now that Walgreens has given up on its efforts to buy rival drugstore chain Rite Aid, it should ready itself for membership in the growing club of defendants.
Walgreens has ended its takeover pursuit of rival Rite Aid following resistance from U.S. regulators and will instead now buy stores, distribution centers and inventory in a new deal with the chain.
The Cherokee Nation claims the companies should have prevented rather than profited from the opioid epidemic and the mass distribution of addictive pain pills.
Piedmont Healthcare has agreed to take over and operate 27 Walgreens in-store clinics in the Atlanta metropolitan area. Piedmont joins systems in other states which have bought or leased retail clinics meant to provide fast, convenient care for patients with minor ailments.
Walgreens has signed on as a partner of Matter, a Chicago-based incubator for health technology startups. The pharmacy giant will provide mentorship and financial support to Matter's 150 or so startups.
Walgreens and Rite Aid will sell 865 stores to rival retailer Fred's for $950 million, potentially removing the final roadblock thwarting a tie up between the nation's largest and third-largest drugstore chains.
Walgreens has sued its former partner, blood-testing startup Theranos, alleging breach of contract. The unit of Walgreens Boots Alliance is seeking $140 million, the amount it invested in Theranos.