Healthcare DIVE February 7, 2025
The sale netted about $300 million for Walgreens and shrinks the company’s stake in Cencora to approximately 6%, down from 10%.
Dive Brief:
- Walgreens is offloading more shares in drug distributor Cencora as the struggling pharmacy chain looks to generate cash.
- The latest sale netted about $300 million for Walgreens, and shrinks the company’s stake in Cencora to approximately 6%, down from 10%, according to a press release on Thursday.
- Walgreens said it plans to use the proceeds to pay down debt and invest in other corporate functions, while stressing that the sale has no impact on its partnership with Cencora.
Dive Insight:
Walgreens and Cencora have been working together since 2013, when the drug distributor was still...
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