During the Walgreens Boots Alliance’s conference call this week on its third-quarter results, co-COO Alex Gourlay told analysts that WBA will address Valeant Pharmaceuticals International’s concerns about its distribution arrangement with the company. Under the deal, announced in December, WBA and Valeant entered agreements in which the drug maker will directly distribute branded prescription drugs
Stefano Pessina said Walgreens Boots Alliance remains in the ballpark in terms of likely store divestitures that the Federal Trade Commission will require for WBA to finalize its deal to acquire Rite Aid Corp. “We still believe that our initial estimate is correct. We still believe that at the end we will stay in the
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) saw sales and adjusted net earnings rise in its fiscal 2016 third quarter, with adjusted earnings per share exceeding Wall Street’s consensus forecast. WBA said Wednesday that its pending acquisition of Rite Aid Corp. remains on track for completion in the second half of this year, and it
The Boots UK drug chain, part of Walgreens Boots Alliance, worked with IBM and Apple to develop a mobile app to enhance the in-store shopping experience. Called Sales Assist, the IBM MobileFirst for iOS app leverages Apple’s iPad to help make it easier for customers to get the products they need, IBM and Boots said.
DEERFIELD, Ill. — Alex Gourlay and Ornella Barra have been named co-chief operating officers of Walgreens Boots Alliance Inc. (WBA). Gourlay had been president of Walgreens, and Barra president and chief executive of global wholesale and international retail. Both had also been executive vice presidents of WBA. In his new role, Gourlay will oversee Walgreens
The appointment of Alex Gourlay and Ornella Barra as co-chief operating officers of Walgreens Boots Alliance signals the start of a new stage in the process of forging the two companies that came together to form WBA at the close of 2014 into a new corporate culture. The two executives, whose talent, experience and leadership
CAMP HILL, Pa. — Rite Aid Corp. cited pressure in pharmacy reimbursement as it reported a net loss and fell short of Wall Street’s earnings forecast for its fiscal 2017 first quarter. Meanwhile, overall retail sales and same-store sales edged up for the quarter, and the EnvisionRx pharmacy benefit management business, acquired about a year
Shares of Walgreens Boots Alliance and Rite Aid edged up on Friday following a news report that the Federal Trade Commission is looking more favorably at the companies’ merger deal. The New York Post reported late Thursday that there are “growing signs” the FTC will give the green light to WBA’s $17.2 billion deal to
Players in the retail pharmacy space accounted for three of the top 10 spots in the 2016 Fortune 500 list of the nation’s largest companies by revenue. Coming in again at No. 1 overall on the annual list, released this week, was the world’s largest retailer, Walmart, with sales of $482.13 billion. The company is
CHESTERBROOK, Pa. — AmerisourceBergen Corp. has done much to redefine the role of the pharmaceutical wholesaler in recent years. The company has augmented its core drug distribution operation with a variety of capabilities that better position it to help business partners throughout the supply chain succeed. When one hears the name AmerisourceBergen today, it is
DEERFIELD, Ill. — Activist investor Barry Rosenstein, managing partner of hedge fund JANA Partners LLC, has stepped down from the Walgreens Boots Alliance Inc. (WBA) board after reducing his investment in the company. WBA said Rosenstein, who had been a director since September 2014, was slated to end his service on the board once JANA’s
Walgreens Boots Alliance brought the celebration of its Red Nose Day efforts to the floor of the Nasdaq stock exchange. On Thursday, Skip Bourdo, corporate operations vice president at Walgreens, and Christy Gibb of the Comic Relief Board of Trustees rang the Nasdaq opening bell. Representatives from Red Nose Day 2016 partners NBC Universal and
DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) Inc. has announced a $6 billion debt offering to help finance its $17.2 billion deal to acquire Rite Aid Corp. WBA said late Thursday that it expects the underwritten public offering of unsecured, unsubordinated notes to close on June 1, pending customary closing conditions. The company reported that
DEERFIELD, Ill. — Activist investor Barry Rosenstein, managing partner of hedge fund JANA Partners LLC, has stepped down from the Walgreens Boots Alliance (WBA) Inc. board after reducing his investment in the company. WBA said late Friday that Rosenstein, who has been a director since September 2014, was slated to end his service on the
