Healthcare DIVE August 5, 2024
The struggling drugstore chain has been chipping away at its stake in Cencora, formerly known as AmerisourceBergen, since last summer.
Dive Brief:
- Walgreens has once again cut its stake in drug distributor Cencora as the struggling pharmacy chain looks to boost funding.
- The Illinois-based retailer announced last week it was selling more shares in Cencora for roughly $1.1 billion in proceeds. The sales lower Walgreens’ stake in Cencora to approximately 10% from 12%.
- Walgreens said it will use the money to pay down debt and to fund its operations as it continues to pivot to a health services strategy.
Dive Insight:
Walgreens has struggled amid inadequate reimbursement in its core pharmacy business and rising costs of operating stores....
Today's Sponsors
Today's Sponsor