Walgreens reports surprise drop in quarterly sales
It has been a few years since Walgreens has implemented their “good faith policy” on filling opiates and allows their Pharmacist to “BLACK BALL” a pt from all 8500 stores… and turn down filling any particular prescription if no more than “they don’t feel comfortable”… I know I have seen statements from numerous pts – mostly chronic pain pts – they have refuse to spend money at a Walgreens over their “good faith policy”… I know that I stopped over 4 yrs ago..after being denied a C-II Rx filled and we had some $15,000+/yr of Rx filled.. But don’t worry about Walgreens… they are buying/merging with the 4500 Rite Aid Stores… so as soon as that happens they will be able to report increased sales year over year… but if people keep refusing to deal with their “good faith policy” and it will only take a year until their year to year sales will start falling again…
Walgreens Boots Alliance Inc , the largest U.S. drugstore chain, reported a surprise drop in quarterly sales, hurt by a weak euro and pound and lower reimbursements for generic drugs.
Net income attributable to Walgreens fell to $1.05 billion, or 97 cents per share, in the first quarter ended Nov. 30, from $1.11 billion, or $1.01 per share, a year earlier.
Sales fell to $28.50 billion from $29.03 billion.
Walgreens, which is awaiting regulatory approval for its $9.5 billion takeover of smaller rival Rite Aid Corp , said it expects to close the deal early this year.
Filed under: General Problems
What is the problem with their math? Fewer prescriptions written and refusing to fill some of those is going to mean fewer profits unless they seriously raise prices!