DEERFIELD, Ill., 2017-Apr-04 — /EPR Retail News/ — Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today (3 April 2017 ) announced that Walgreens and pharmacy benefit manager Prime Therapeutics LLC (Prime) have closed their transaction to form a combined central specialty pharmacy and mail services company, as part of the strategic alliance first announced last August. The company, AllianceRx Walgreens Prime, is headquartered in Orlando, Florida.
Active work to unite mail services and central specialty operations will begin immediately. Joel Wright, formerly divisional vice president for Walgreens specialty solutions, will lead AllianceRx Walgreens Prime as its CEO after holding numerous leadership roles within Walgreens over the past 25 years.
AllianceRx Walgreens Prime will manage several consolidated mail service and central specialty pharmacy operations. Its workforce of approximately 3,000 employees nationally will be comprised of current Walgreens and Prime employees, including those currently working at the existing Prime location in Orlando.
AllianceRx Walgreens Prime will be consolidated by Walgreens Boots Alliance, parent company of Walgreens, in its financial statements. Walgreens Boots Alliance does not expect the transaction will have a material impact on its fiscal 2017 adjusted earnings per share.
Cautionary Note Regarding Forward-Looking Statements: All statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and involve risks, assumptions and uncertainties, including, but not limited to, those related to the timing and effectiveness of transition and integration plans, the ability to realize the anticipated benefits of the alliance, and the ability to realize anticipated operating and purchasing efficiencies and achieve anticipated financial and operating results in the amounts and at the times anticipated, as well as those described in Item 1A (Risk Factors) of our Form 10-K for the fiscal year ending 31 August 2016, which is incorporated herein by reference, and in other documents that we file or furnish with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially. These forward-looking statements speak only as of the date they are made. Except to the extent required by law, we do not undertake, and expressly disclaim, any duty or obligation to update publicly any forward-looking statement after the date of this release, whether as a result of new information, future events, changes in assumptions or otherwise.
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led, health and wellbeing enterprise.
The company was created through the combination of Walgreens and Alliance Boots in December 2014, bringing together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the USA and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25* countries and employ more than 400,000* people. The company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has over 13,200* stores in 11* countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 390* distribution centers delivering to more than 230,000** pharmacies, doctors, health centers and hospitals each year in more than 20* countries. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products.
The company’s portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Botanics, Liz Earle and Soap & Glory.
In October 2016 Walgreens Boots Alliance received the United Nations Foundation Global Leadership Award for its commitment to the UN’s Sustainable Development Goals. The company also ranks No. 1 in the Food and Drug Stores industry of Fortune magazine’s 2017 list of the World’s Most Admired Companies.
* As of 31 August 2016, using publicly available information for AmerisourceBergen.
** For 12 months ending 31 August 2016, using publicly available information for AmerisourceBergen.
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Gerald Gradwell and Ashish Kohli
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Source: Walgreens Boots Alliance