NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. have entered into an agreement to sell 865 Rite Aid stores and certain assets related to store operations to Fred’s Inc. for $950 million. The all-cash transaction, announced Tuesday, is subject to Federal Trade Commission approval, as well as the completion of the
CVS Health’s scaled-back 2017 guidance, given in its third-quarter report this week, spotlights an intensifying competitive battle with rival Walgreens Boots Alliance. CVS reported that for fiscal 2017 it expects to lose over 40 million retail prescriptions due to marketplace changes, notably narrower retail pharmacy networks excluding CVS Pharmacy drug stores. The announcement sent CVS
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
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.
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
The suspense (or impatience?) continues to build in the investor and retailing communities as Walgreens Boots Alliance’s $17.2 billion deal to buy Rite Aid remains under review by the Federal Trade Commission. Lately, speculation has centered on Kroger as a potential buyer of stores that would be divested by WBA for the FTC to sign
DEERFIELD, Ill., and ST. PAUL, Minn. — Walgreens has entered into a long-term alliance with Prime Therapeutics, the nation’s fourth-largest pharmacy benefit manager, that will include the creation of a joint pharmacy services company. Under the partnership, Walgreens and Prime will combine their central specialty pharmacy and mail service businesses, the companies said Monday. The
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) has signed an agreement to form a franchise partnership with Emart Co., a subsidiary of South Korea’s largest retailer, Shinsegae Group. Under the terms of the partnership, the two companies will create a pharmacy-led health and beauty retail franchise in South Korea operating under the Boots banner.
It has been slightly more than nine months since Walgreens Boots Alliance agreed to acquire Rite Aid in a $17.2 billion all-cash transaction. Since that time, speculation about whether the Walgreens-Rite Aid merger will pass muster with the Federal Trade Commission has become a staple of discussion for people involved in community pharmacy and the
DEERFIELD, Ill. — Walgreens Boots Alliance Inc. (WBA) is participating in the USA Precision Medicine Initiative (PMI) Cohort Program. WBA said its participation is the result of a $20 million grant awarded to The Scripps Research Institute by the National Institutes of Health (NIH). Walgreens will help support patient enrollment and participation in the cohort
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