The $6.5 billion sale of the Alliance Healthcare pharmacy distribution will enable Walgreens to focus on its core retail operations.
The pandemic had an adverse impact on sales in the third quarter of about $700 million to $750 million though sales rose in the U.S.
Once the dust finally settles from the COVID-19 crisis, the last thing issuers will want is to face an inquiry and possible enforcement action by the SEC.
McKesson and Walgreens are strong, healthy companies, despite recent downturns in their stock prices, a CEO in the investment field says.
“Following a difficult second quarter, we made progress in the third quarter against the strategic goals we set," CEO Stefano Pessina says.
The company's second-quarter report showed the continuing impact of shrinking generic drug sales on the country's largest pharmacy chains.
For CFOs wanting to understand investor behavior, here's an argument that Jeff Bezos is human, after all, and Amazon can't defy basic economic principles.
The drugstore chain's pharmacy same-store sales rose 5.1% in Q2, offsetting a 2.7% drop in retail comparable sales.
As core strategies for containing employee health-care costs diminish in effectiveness, companies need fresher approaches.
Prescription reimbursement rates "remain our largest challenge and we expect that to continue for the remainder of the fiscal year," the company says.
Sales rose 14% for the second quarter but still fell short of analysts' projections.
