Walgreens Receives BARDA Project NextGen Award to Conduct Novel COVID-19 Decentralized Clinical Study

Rhea-AI Summary

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

Positive

• Received $25 million award for COVID-19 vaccine study
• Potential to improve access and diversity in clinical trials
• Leveraging extensive community pharmacy network for research
• Administered over 90 million COVID-19 vaccinations to date
• Only retail pharmacy with national decentralized clinical trial infrastructure

Negative

• None.

Insights

Medical Research Analyst

The $25 million award to Walgreens for conducting a Phase IV observational clinical study is a significant development in medical research. This study will focus on Correlates of Protection (CoP), which are responses indicating how well a vaccinated person is protected from future infections. By leveraging Walgreens' extensive community pharmacy network, the study aims to enhance access to clinical research and ensure diverse participation. This initiative aligns with the broader goals of improving public health preparedness and advancing vaccine science. In the long-term, successful outcomes from this study could pave the way for better-informed vaccine strategies and policies, potentially reducing the impact of future pandemics.

Market Research Analyst

From a business perspective, securing this BARDA award is a strategic win for Walgreens. The $25 million funding not only underscores the company's capability in handling large-scale health initiatives, but also enhances its reputation as a key player in decentralized clinical trials. This could lead to increased trust and preference among consumers and healthcare partners. Moreover, the focus on historically underrepresented communities could expand Walgreens' market reach and customer base. In the short term, investors might see this as a positive signal, potentially boosting stock prices. However, the long-term financial benefits will largely depend on the successful execution of the study and any subsequent partnerships or contracts.

Financial Analyst

Financially, the $25 million award, though not a game-changer in terms of revenue, adds a layer of diversification to Walgreens' income streams. This funding is part of the larger $5 billion Project NextGen initiative by HHS, indicating potential future opportunities for similar or larger awards. Additionally, the successful completion and positive outcomes of this study could enhance Walgreens' standing in the healthcare sector, possibly leading to increased partnerships and business ventures. For investors, this news is a positive indicator of Walgreens' strategic positioning and its ability to secure federal funds for critical health initiatives. It also demonstrates the company's role in the evolving landscape of healthcare services.

This study aims to enhance U.S. public health preparedness through Walgreens community pharmacy network, improving access and diversity in clinical trials via a $25m award

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreens today announced it received a project award valued up to $25 million through the Rapid Response Partnership Vehicle (RRPV) to conduct a Phase IV observational clinical study focused on assessing Correlates of Protection (CoP), known as responses to a vaccine that predict how well a vaccinated person will be protected from future infections, using COVID-19 vaccine data. The RRPV is a Consortium funded by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) in the U.S. Department of Health and Human Services (HHS). This partnership underscores a shared commitment to advancing public health through innovative research and leveraging Walgreens’ extensive community pharmacies to increase access and representation in clinical trials.

As a leading community pharmacy and front door to the U.S. healthcare system, Walgreens played a pivotal role in the distribution of COVID-19 vaccines and testing throughout the pandemic. Walgreens has administered over 90 million COVID-19 vaccinations to date, showcasing its capacity to handle large-scale health initiatives. Building on this experience, through this collaboration, the BARDA-funded study will utilize select Walgreens community pharmacies as clinical trial sites to assess the effectiveness of FDA-authorized COVID-19 vaccines. This initiative aims to enhance access to clinical research across diverse patient populations, particularly in communities historically underrepresented in clinical trials.

“We are honored to be selected by BARDA and its RRPV for this important study as this is a step forward to utilize public and private partnerships to bring clinical trials into more communities across the country,” said Ramita Tandon, chief clinical trials officer at Walgreens. “With our experience in immunizations and trusted relationship with millions of patients and customers, Walgreens is uniquely positioned to support this critical research. As the only retail pharmacy with a national decentralized clinical trial infrastructure and dedicated clinical research staff, we are committed to helping enhance public health preparedness.”

Walgreens will employ a comprehensive approach to participant recruitment, which will leverage its physical footprint in addition to its compliant and secure decentralized clinical trial platform to reach patients where it’s most convenient for them. The study will enroll up to 4,000 participants across 20 retail pharmacy locations nationwide, ensuring a diverse and representative study population.

Funding for this award was received under Project NextGen, a $5 billion initiative by HHS to advance a pipeline of new, innovative vaccines and therapeutics providing broader and more durable protection for COVID-19 than the first-generation COVID vaccines and medicines. BARDA is supporting the development of new vaccines, therapeutics, and enabling technologies to better address the waning immunity and resistance to current and future SARS-CoV2 viral strains.

This project is being funded with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under Other Transaction (OT) number: 75A50123D00005.

About Walgreens:

Walgreens (http://www.walgreens.com) is included in the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader. True to its purpose of “more joyful lives through better health,” Walgreens has a more than 120-year heritage of caring for communities and providing trusted pharmacy services, and today is playing a greater role as an independent partner of choice offering healthcare services that improve care, lower costs, and help patients. Operating nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily. The company’s pharmacists are playing a more critical role in healthcare than ever before, providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for some of the nation’s most underserved populations. Walgreens offers customers and patients a true omnichannel experience, with fully integrated physical and digital platforms designed to deliver high-quality products and healthcare services. Within the U.S. Healthcare segment, Walgreens portfolio also includes businesses in primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy services, population health and provider enablement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240723035706/en/

Walgreens

Carmen Lopez

media@walgreens.com

Source: Walgreens

FAQ

What is the purpose of Walgreens' BARDA-funded COVID-19 study (WBA)?

The study aims to assess Correlates of Protection (CoP) for COVID-19 vaccines, enhancing U.S. public health preparedness and improving access and diversity in clinical trials through Walgreens' community pharmacy network.

How many participants will Walgreens (WBA) enroll in the COVID-19 vaccine study?

Walgreens plans to enroll up to 4,000 participants across 20 retail pharmacy locations nationwide for the BARDA-funded COVID-19 vaccine study.

What is the value of the BARDA award received by Walgreens (WBA) for the COVID-19 study?

Walgreens received a project award valued up to $25 million through the Rapid Response Partnership Vehicle (RRPV) to conduct the Phase IV observational clinical study on COVID-19 vaccine data.

How many COVID-19 vaccinations has Walgreens (WBA) administered to date?

Walgreens has administered over 90 million COVID-19 vaccinations to date, demonstrating its capacity to handle large-scale health initiatives.