Walgreens to sell drug wholesale business for $6.5B

Pharmaceutical wholesalers essentially act as middlemen, purchasing drugs from manufacturers and then distributing them to customers like drugstore chains, hospitals and doctor's offices.

Drugstore chains and other retailers were hit hard, particularly last spring, when the pandemic forced shoppers to stay home and away from their stores. Deerfield, Illinois-based Walgreens Boots Alliance Inc. runs more than 21,000 stores mainly in the United States and United Kingdom. Drugstores are the main focus of its business, unlike main rival CVS Health Corp., which also operates large insurance and pharmacy benefit management businesses.

The companies also said Wednesday that they will extend their U.S. distribution agreement by three years, until 2029.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Renesas Electronics says in talks about $6 billion acquisition of Dialog SemiconductorJapan's Renesas Electronics Corp said it is in talks with Dialog Semiconductor GmbH about a potential acquisition that would value the Frankfurt-listed Apple Inc supplier at around $6 billion.
Source: Reuters - 🏆 2. / 97 Read more »

GitLab CEO weighing options for going public after employee share sale valued company at $6 billionGitLab CEO Sid Sijbrandij confirmed CNBC's reporting from November of an employee share sale and said the company topped $150 million in annual revenue. SPAC chamath ? 👀
Source: CNBC - 🏆 12. / 72 Read more »