NEW YORK — Competition remains fierce in the chain pharmacy industry, albeit with a decreasing number of players. If the pending acquisition of Rite Aid Corp. by Walgreens Boots Alliance Inc. goes through, the field will diminish dramatically, especially in major metropolitan areas. Depending on the number of stores WBA divests to meet antitrust requirements,
NEW YORK — The nation’s largest drug store chains are among retailers that are offering assistance to Hurricane Matthew victims. The Rite Aid Foundation said it had donated $125,000 to the American Red Cross to support relief efforts in North Carolina, South Carolina and Virginia, where Rite Aid operates more than 500 drug stores. The
Not much else about the progress of the Walgreens-Rite Aid merger came out in yesterday’s fourth-quarter earnings conference call by Walgreens Boots Alliance. A swirl of media reports in recent months have gone back and forth about the number of store divestitures and whether the Federal Trade Commission will end up signing off on the
DEERFIELD, Ill. — As talks roll on to gain regulatory clearance for its acquisition of Rite Aid Corp., Walgreens Boots Alliance (WBA) posted adjusted earnings for its fiscal 2016 fourth quarter and full year that beat Wall Street’s estimates. WBA said Thursday that GAAP net earnings attributable to Walgreens Boots Alliance totaled $1.03 billion, or
DEERFIELD, Ill., and CAMP HILL, Pa. — Walgreens Boots Alliance (WBA) and Rite Aid Corp. are expanding the time frame for completing their planned $17.2 billion merger deal. WBA and Rite Aid said Thursday that they have extended the end date for the agreement to Jan. 27, 2017, from Oct. 27, 2016, and expect the
NEW YORK — Walgreens Boots Alliance (WBA) is receiving a United Nations Foundation 2016 Global Leadership Award for its “Get a Shot. Give a Shot.” vaccination campaign. WBA said co-chief operating officer Ornella Barra will accept the award on behalf of the company tonight at the UN Foundation Global Leadership Awards Dinner in New York.
Apparently, Kroger might not become the enabler for Federal Trade Commission approval of the Walgreens-Rite Aid merger. The New York Post reported late Tuesday that Kroger may be taking a pass on buying Walgreens and/or Rite Aid stores that would need to be divested by Walgreens Boots Alliance to gain FTC clearance for its $17
NEW YORK — Speculation continues to percolate about snags holding up Walgreens Boots Alliance Inc.’s (WBA’s) acquisition of Rite Aid Corp. Last last month the New York Post reported that private equity firms were uninterested in purchasing 650 stores that WBA must divest to satisfy antitrust requirements. Investors found the stores to be subpar and
It looks like one divestment possibility for Walgreens Boots Alliance isn’t panning out as it works with the Federal Trade Commission to gain antitrust clearance for its acquisition of Rite Aid. The New York Post reported this week that WBA hasn’t been able to sway private equity firms to buy a chunk of Walgreens and/or
DEERFIELD, Ill. — Charles R. (Cork) Walgreen III, former chairman, president and CEO of Walgreen Co., died today at his home in Lake Forest, Ill. He was 80. Walgreen was the grandson of company founder Charles R. Walgreen Sr. Born in Chicago on Nov. 11, 1935, to Mary Ann Leslie and Charles R. Walgreen Jr.,
Steve Anderson, president and chief executive officer of the National Association of Chain Drug Stores, was presented CEO Update magazine’s 2016 Trade Association CEO of the Year award. Anderson — just the third CEO to receive the honor — received the award Thursday at CEO Update’s 2016 Association Leadership Awards luncheon, held at the new Trump
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has upped the number of stores that it expects to divest to gain government clearance for its $17.2 billion purchase of Rite Aid Corp. WBA said this month that between 500 and 1,000 Walgreens and/or Rite Aid stores will probably have to be divested to win Federal
NEW YORK — CVS Pharmacy president Helena Foulkes and Walgreens Boots Alliance Inc. co-chief operating officer Ornella Barra were among those recognized by Fortune magazine as the “Most Powerful Women” in business for 2016. Foulkes, who is also executive vice president of CVS Health, was ranked 12th on the list of 51 women in the
CAMP HILL, Pa. — Despite an uptick in total sales, lower drug reimbursement rates and script count trimmed profits at Rite Aid Corp. for its fiscal 2017 second quarter. Rite Aid also said Thursday that it continues to expect its acquisition by Walgreens Boots Alliance (WBA) Inc., a $17.2 billion deal announced Oct. 27, to
