Walgreen Boots Stock Price, News & Analysis

VillageMD has successfully completed the acquisition of Summit Health-CityMD on January 3, 2023 for $8.9 billion, expanding its capacity in primary, specialty, and urgent care services. This merger, supported by Walgreens Boots Alliance (WBA) and Cigna Corporation (CI), aims to enhance patient-centered care through a combined workforce of 20,000 professionals. The collaboration intends to leverage innovative healthcare delivery models across 680 locations in 26 markets, targeting improved health outcomes and value-based care.

Walgreens Boots Alliance (WBA) reported a first-quarter net loss of $3.7 billion, significantly impacted by a $6.5 billion opioid-related charge. Adjusted EPS fell 30.8% to $1.16. First-quarter sales decreased 1.5% year-over-year to $33.4 billion, with resilient core retail performance but challenges in COVID-19 vaccine sales. The company raised its full-year sales guidance to $133.5 billion to $137.5 billion, while maintaining adjusted EPS guidance of $4.45 to $4.65. Significant investments were made in U.S. Healthcare, particularly through the acquisition of Summit Health for $3.5 billion.

Walgreens Boots Alliance (WBA) will be represented by CEO Roz Brewer and CFO James Kehoe at the 41st Annual J.P. Morgan Healthcare Conference on January 10 at 11:15 a.m. PT in San Francisco. The conference will be webcasted live, accessible via WBA's investor relations website. With a heritage of 170 years, WBA operates approximately 13,000 locations across the U.S., Europe, and Latin America, focusing on integrated healthcare, pharmacy, and retail services. The company employs over 325,000 individuals and is committed to sustainability and community health.

Walgreens has expressed gratitude for the inclusion of the INFORM Consumers Act in the 2023 omnibus spending package. This bipartisan legislation aims to combat online sales of counterfeit and stolen products by increasing transparency and accountability in online marketplaces. The act mandates verification of high-volume sellers and enhances collaboration among law enforcement, manufacturers, and retailers. Walgreens, a leading pharmacy operator, supports this measure as part of its commitment to protect customers and combat retail theft.

Walgreens has launched rapid flu testing at over 5,000 pharmacies nationwide, utilizing Abbott's ID NOW devices to deliver results within two hours. This initiative aims to help communities manage the spread of respiratory illnesses during the peak holiday season, with flu activity reported at ten times last year's levels. The service allows individuals to get COVID-19 and flu tests in a single visit, enhancing accessibility to routine healthcare services.

Walgreens is enhancing last-minute holiday shopping with convenient 1-hour Delivery, 24-hour Delivery, and 30-minute Pickup options. Stores will operate on Christmas Eve and Christmas Day, offering flexible services for gift purchasing and health essentials. Customers can order from over 27,000 items for quick delivery, and same-day prescription delivery is available. With a diverse gift selection under $25, including toys and personal care items, Walgreens aims to meet festive shopping needs efficiently.

Walgreens Boots Alliance (WBA) will announce its fiscal 2023 first quarter results on January 5, 2023, at 7 a.m. ET. Following the results, a conference call with WBA management is scheduled for 8:30 a.m. ET and will be available for simulcast on WBA's investor relations website. A replay of the call can be accessed until January 12, 2023. WBA operates approximately 13,000 locations globally and is a trusted leader in healthcare and retail pharmacy, focusing on improving health access and delivering quality health services.

Walgreens Boots Alliance (WBA) has sold shares of AmerisourceBergen Corporation (ABC) for approximately $1.0 billion, with $0.8 billion from a Rule 144 sale and a $0.2 billion concurrent repurchase by AmerisourceBergen. WBA's ownership in ABC decreases from about 20% to 17%. Proceeds will primarily be allocated to debt reduction and funding strategic initiatives, particularly the acquisition of Summit Health-CityMD by VillageMD. WBA's long-term partnership with ABC remains unaffected.

Walgreens, in collaboration with DoorDash and Uber, has launched a program to offer free same-day delivery of Paxlovid, a COVID-19 antiviral therapy, to eligible patients across the U.S. With over 8,000 Walgreens locations participating, this initiative aims to enhance access for approximately 92% of the population, including those in underserved areas. The service responds to the increasing COVID-19 cases, with positivity rates reported at 36%. Eligible patients require a prescription to utilize this service, reinforcing Walgreens' commitment to addressing healthcare disparities.