Walgreen’s core business, its U.S. retail pharmacy, recorded a revenue of $27.6 billion for the period, exceeding analysts’ expectations of $26.8 billion. The rise in sales came as the filing of non-COVID prescriptions increased as the demand for COVID vaccinations declined.

Although the administration of COVID vaccines and testing helped Walgreens to offset lower prescription volumes during the pandemic, prescription filling spiked back to pre-COVID levels as the pandemic subsided.

Same-store sales during the second fiscal quarter rose by 4.9% compared to last year, while prescriptions, excluding vaccinations, increased by 3.5%.

The drugstore chain pursued several expansion efforts in 2022, starting with its $9 billion takeover of urgent care provider Summit Health in January. This acquisition followed the takeovers of two smaller healthcare providers, VillageMD and CareCentrix, to a combined value of $5.5 billion in 2021.

The post Walgreens Beats Expectations In Latest Quarterly Earnings appeared first on theprimarymarket.com.

Reliance Industries have been in contact with Barclays Bank, Deutsche Bank, and Standard Chartered, among other banks, to secure the necessary amount. Reportedly, American investment management firm Apollo Global Management Inc. is also included in the deal.

Reliance already submitted a binding offer that values Boots at $6.1 billion. However, it is understood that the initial bid will have to be sweetened as Boots’ parent company Walgreens Boots Alliance is looking to get around $8.6 billion.

The Walgreens Boots Alliance board is expected to meet sometime this week to discuss the takeover. In order for the deal to go through, the Reliance Industries Ltd. board will also have to give the green light.

Boots is one of the largest health, beauty, and pharma retailers in the United Kingdom in terms of revenue and the number of stores. There are 2,000 locations in the UK alone, but the chain also does business in a number of other countries, including Ireland, Norway, Thailand, and Indonesia.

The post India’s Reliance Industries Looking to Acquire UK Pharmacy Chain Boots appeared first on theprimarymarket.com.

Walgreen’s core business, its U.S. retail pharmacy, recorded a revenue of $27.6 billion for the period, exceeding analysts’ expectations of $26.8 billion. The rise in sales came as the filing of non-COVID prescriptions increased as the demand for COVID vaccinations declined.

Although the administration of COVID vaccines and testing helped Walgreens to offset lower prescription volumes during the pandemic, prescription filling spiked back to pre-COVID levels as the pandemic subsided.

Same-store sales during the second fiscal quarter rose by 4.9% compared to last year, while prescriptions, excluding vaccinations, increased by 3.5%.

The drugstore chain pursued several expansion efforts in 2022, starting with its $9 billion takeover of urgent care provider Summit Health in January. This acquisition followed the takeovers of two smaller healthcare providers, VillageMD and CareCentrix, to a combined value of $5.5 billion in 2021.

The post Walgreens Beats Expectations In Latest Quarterly Earnings appeared first on theprimarymarket.com.

Reliance Industries have been in contact with Barclays Bank, Deutsche Bank, and Standard Chartered, among other banks, to secure the necessary amount. Reportedly, American investment management firm Apollo Global Management Inc. is also included in the deal.

Reliance already submitted a binding offer that values Boots at $6.1 billion. However, it is understood that the initial bid will have to be sweetened as Boots’ parent company Walgreens Boots Alliance is looking to get around $8.6 billion.

The Walgreens Boots Alliance board is expected to meet sometime this week to discuss the takeover. In order for the deal to go through, the Reliance Industries Ltd. board will also have to give the green light.

Boots is one of the largest health, beauty, and pharma retailers in the United Kingdom in terms of revenue and the number of stores. There are 2,000 locations in the UK alone, but the chain also does business in a number of other countries, including Ireland, Norway, Thailand, and Indonesia.

The post India’s Reliance Industries Looking to Acquire UK Pharmacy Chain Boots appeared first on theprimarymarket.com.