Forbes August 19, 2024
Famed international pharmacy chain Walgreens is contemplating selling one of its most celebrated acquisitions— VillageMD, a value based primary care service the company acquired in 2021 for nearly $5.2 billion. Unfortunately, generating a profit from this acquisition has not been easy for the company, especially with growing economic headwinds, significant changes in pharmaceutical demand after the Covid-19 pandemic and an overall tumultuous business environment. Last year, the company announced that it would be closing nearly 60 under-performing clinics as part of an effort to save nearly $1 billion dollars. At that time, Walgreens explained that it was impacted by lower than expected consumer spending as among the primary reasons for a poor earnings outlook.
Since then, the company has continued...
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