Welcome to our dedicated page for Walgreens Boots Alliance news (Ticker: WBA), a resource for investors and traders seeking the latest updates and insights on Walgreens Boots Alliance stock.
Walgreens Boots Alliance, Inc. (WBA) is the first global pharmacy-led, health and wellbeing enterprise. Formed in December 2014 through the combination of Walgreens and Alliance Boots, the company harnesses the strengths of two iconic brands with complementary geographic footprints and a heritage that dates back over a century. WBA operates over 13,100 stores in 11 countries and has a presence in more than 25 countries, employing over 370,000 people worldwide.
WBA is the largest retail pharmacy, health, and daily living destination in the USA and Europe, with its extensive network ensuring nearly three-quarters of Americans live within five miles of a Walgreens location. The company's revenue is majorly generated from prescription drug sales, which account for about two-thirds of its overall sales. Walgreens alone contributes to 20% of total prescription revenue in the U.S.
Alongside prescription sales, WBA's operations include retail products, European drug wholesale, and healthcare services. The company is continuously expanding its services with initiatives such as Health Corner and Village Medical, aiming to create an omnichannel experience for patients and positioning itself as a one-stop healthcare provider.
In recent developments, WBA has made significant strides towards sustainability, such as reducing single-use plastic in its packaging and collaborating with industry partners for better recycling practices. The efforts are part of the company's broader Environmental, Social, and Governance (ESG) initiatives aimed at reducing its environmental impact.
Additionally, Walgreens is expanding its specialty pharmacy services through the introduction of Walgreens Specialty Pharmacy, which integrates AllianceRx and focuses on providing care for patients with complex, chronic conditions. This initiative aims to improve patient outcomes and provide greater value to payers and partners.
WBA’s specialty pharmacy business is bolstered by its subsidiary, Shields Health Solutions, which supports health systems' specialty pharmacies across the U.S. Through these efforts, Walgreens continues to play a pivotal role in the healthcare system, offering comprehensive solutions that bridge gaps in patient care.
For National Women's Health Month, Walgreens has been highlighting the contributions of its female leaders, emphasizing the importance of women's health and wellness. The company organized events focused on work-life balance, mental health, and leadership development, furthering its commitment to diversity, equity, and inclusion.
With a mission to provide joy through better health, Walgreens Boots Alliance remains a trusted name in the healthcare and retail pharmacy sectors, continuously evolving to meet the needs of its customers and communities worldwide.
This Must Be the Place (TMBTP), an overdose prevention non-profit, and Walgreens have partnered to expand access to naloxone at music and art festivals. Walgreens has facilitated the donation of 12,000 units of Walgreens Brand Naloxone HCI Nasal Spray, valued at over $400,000, to TMBTP for distribution at festivals. This initiative aims to educate attendees about the opioid crisis and overdose response.
TMBTP will have booths at festivals to distribute free naloxone kits and provide education. Walgreens offers naloxone at a lower price than comparable national brands in its stores, serving as a critical access point for its 10 million daily customers. This partnership aligns with Walgreens' commitment to addressing the opioid overdose crisis and improving community health.
Walgreens and Instacart have announced a nationwide collaboration to accept SNAP/EBT payments online at over 7,500 Walgreens stores, including 100+ Duane Reade locations in New York. This initiative allows customers to purchase thousands of SNAP-eligible products for same-day delivery via Instacart, broadening food access for over 40 million SNAP/EBT beneficiaries.
The partnership aims to enhance Walgreens' front-of-store experience and create omnichannel solutions while improving in-store efficiencies. Customers can now order SNAP-eligible items from Walgreens through Instacart's website or mobile app, selecting their SNAP EBT card as a payment method and allocating their benefits to eligible items at checkout.
Walgreens Boots Alliance (WBA) has announced the sale of its remaining unencumbered shares of Cencora, Inc. (COR) for approximately $1.1 billion. The transaction includes an $818 million sale pursuant to Rule 144 and a $250 million concurrent share repurchase by Cencora. This move reduces WBA's ownership of Cencora from about 12% to 10%. The proceeds will be primarily used for debt paydown and general corporate purposes, aligning with WBA's strategy to develop a more capital-efficient health services model based on its retail pharmacy network. Importantly, the sale does not affect the long-term strategic partnership between WBA and Cencora, which has been in place since 2013. Ornella Barra, WBA's Chief Operating Officer, International, will continue to serve on Cencora's Board of Directors.
Walgreens (WBA) has announced the availability of flu shots nationwide for individuals aged 3 and up. The company offers flexible vaccination appointments, including nights, weekends, and walk-ins, with options to schedule additional vaccines in the same visit. Walgreens will also provide the updated COVID-19 vaccine once available.
The pharmacy chain offers various testing options for flu and COVID-19, including a rapid test for both viruses with results in 30 minutes. Walgreens pharmacists in many states can evaluate and prescribe antiviral medications for flu or COVID-19. The company also provides 1-hour delivery for medicine cabinet essentials and Same Day Rx Delivery for eligible prescriptions.
According to a 2023 IQVIA study, approximately 70% of adult flu vaccinations were administered in retail pharmacies during flu season. Since 2010, Walgreens pharmacy team members have administered more than 105 million vaccinations in U.S. communities.
Walgreens has received a $25 million award from BARDA to conduct a Phase IV observational clinical study on COVID-19 vaccine data. The study aims to assess Correlates of Protection (CoP) and enhance U.S. public health preparedness. Walgreens will leverage its community pharmacy network to improve access and diversity in clinical trials.
Key points:
- Study will enroll up to 4,000 participants across 20 retail pharmacy locations
- Walgreens has administered over 90 million COVID-19 vaccinations to date
- The project is part of HHS's $5 billion Project NextGen initiative
- Walgreens will use its decentralized clinical trial platform for participant recruitment
Walgreens is launching Nice! For You, a new tier of its popular owned grocery brand, Nice!, to help customers make healthier food and beverage choices. The new line features over 150 products without artificial flavors, sweeteners, synthetic dyes, or high-fructose corn syrup. Many options are also organic and gluten-free.
Nice! For You aims to support customers' journeys to healthier lifestyles while maintaining Walgreens' commitment to high-quality, great-tasting products at competitive prices. The portfolio includes a wide range of items such as jerky, oatmeal, nuts, trail mixes, dried fruit, coffee, frozen foods, beverages, and various grocery staples.
Walgreens Boots Alliance (WBA) has appointed Dr. William H. Shrank to its board of directors. Dr. Shrank brings significant healthcare strategy and policy expertise, having held leadership roles at Humana, CVS Health, and Andreesen Horowitz. His appointment comes at a pivotal time as WBA focuses on strategic turnaround and enhancing its community pharmacy value. CEO Tim Wentworth and Executive Chairman Stefano Pessina expressed confidence that Dr. Shrank's experience will be instrumental in driving long-term value for stakeholders.
Walgreens Boots Alliance (WBA) has declared a quarterly dividend of 25 cents per share, consistent with the previous quarter. The dividend will be payable on September 12, 2024, to shareholders recorded by August 21, 2024. Walgreens Boots Alliance and its predecessor, Walgreen Co., have sustained a remarkable streak of paying dividends over 367 consecutive quarters, equivalent to 91 years.
Walgreens announced its sponsorship for the second consecutive year at the Friends for Life (FFL) conference hosted by Children with Diabetes (CWD). The event, taking place from July 9-14 in Orlando, Fla, aims to provide education and support to families living with type 1 diabetes. Walgreens will showcase a range of diabetes management products, including blood glucose meters, A1C test kits, and first-aid essentials, and highlight its use of Instacart's Scan & Pay technology for convenient purchasing. Key speakers include Tracey D. Brown, Walgreens EVP and chief customer officer, and Shauna Markes-Wilson, director of pharmacy and retail operations. The event will also focus on clinical trials and recruiting healthcare professionals.
Walgreens Boots Alliance (WBA) reported its fiscal 2024 third-quarter results, revealing a complex financial landscape. The company posted a Q3 earnings per share (EPS) of $0.40, up from $0.14 in the previous year, but adjusted EPS decreased by 36.6% to $0.63 due to lower sale-leaseback gains and a challenging U.S. retail environment. Sales grew 2.6% year-over-year to $36.4 billion. However, fiscal 2024 adjusted EPS guidance has been lowered to $2.80-$2.95, reflecting ongoing challenges in the pharmacy sector and U.S. consumer market.
WBA is finalizing a multiyear footprint optimization program to close underperforming U.S. stores and plans to enhance the U.S. Retail Pharmacy experience. Despite a 2.3% increase in U.S. Retail Pharmacy sales to $28.5 billion, adjusted operating income declined by 47.9%, impacted by reimbursement pressures. The International segment saw a 2.8% sales increase to $5.7 billion, while U.S. Healthcare sales rose by 7.6% to $2.1 billion.
Year-to-date results show a 6.2% sales increase to $110.1 billion, but WBA faced a net loss of $5.6 billion, up from a $2.9 billion loss in the previous year, mainly due to significant impairment charges.
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