Walgreens, Duane Reade to pay New York $500K fine after probe found chain overcharged customers
NY Daily News
April 21, 2016 | BY KENNETH LOVETT
A major pharmacy company in New York will pay the state $500,000 after routinely charging customers different prices at the register than what was listed on shelves and in ads…
Valeant Taking Titles to Drugs on Walgreens’ Shelves
Wall Street Journal
December 21, 2015 | BY JONATHAN D. ROCKOFF
Buried in the details of a new 20-year distribution agreement between Valeant Pharmaceuticals International Inc. and Walgreens Boots Alliance Inc. is a $150 million financial hit to Valeant that underscores the unusual nature of the deal.
Walgreens may sell 1,000 stores for Rite Aid deal
USA Today
October 28, 2015 | AP
Walgreens says it’s willing to divest up to 1,000 stores to win regulatory approval for its Rite Aid purchase, although it expects it won’t have to sell more than 500.
Senators call for scrutiny of Walgreens-Rite Aid deal
Reuters
October 28, 2015 | BY SRUTHI RAMAKRISHNAN AND DIANE BARTZ
Two influential U.S. senators called for close scrutiny of Walgreens Boots Alliance Inc’s (WBA.O) plan to buy Rite Aid Corp (RAD.N) for $9.4 billion, a deal that would unite two of the three biggest U.S. drugstore chains.
Walgreens Is Buying Rite Aid For $17.2 Billion
Huffington Post
October 27, 2015 | AP
Walgreens is buying rival Rite Aid for about $9.41 billion in cash, creating a drugstore giant with nearly 18,000 stores around the world.
Drug with jacked up price can only be found at some Walgreens. Why?
Chicago Tribune
September 25, 2015 | BY John Russell
A lifesaving drug that became the center of a national furor this week after its manufacturer raised the price by about 5,000 percent can only be found at select Walgreens pharmacies.
Walgreens continues deceptive pricing practices, Missouri attorney general says
St. Louis Post-Dispatch
September 22, 2015 | BY Samantha Liss
Missouri Attorney General Chris Koster says Walgreens is violating a 2014 settlement with his office in which the drugstore chain agreed to fix problems over alleged deceptive pricing.
Beauty leadership changes at Walgreens
Drugstore News
August 19, 2015 | BY Staff
Drug Store News has learned that Shannon Curtin, Walgreens group VP and general merchandise manager for beauty and personal care, will leave the company, effective Sept. 1.
Walgreens Settles Consumer Protection Suit, Pays $502K
Times of San Diego
August 17, 2015 | BY Alexander Nguyen
Prosecutors in San Diego and other counties obtained a $502,200 settlement in a consumer protection lawsuit alleging that Walgreens pharmacists throughout California frequently failed to comply with patient consultation rules.
Walgreens’ U.S. streamlining begins with 270 local corporate layoffs
Crain’s Chicago Business
August 17, 2015 | BY Brigid Sweeney
Walgreens Boots Alliance is laying off 370 employees, including 270 at its Deerfield headquarters and other suburban offices in Northbrook, Bannockburn and Lincolnshire.
Another Walgreens executive leaves the company
Chicago Tribune
July 15, 2015 | BY Ameet Sachdev
Jeff Berkowitz, an executive vice president at Walgreens Boots Alliance, has left the company, according to an internal memo provided to the Chicago Tribune.
Walgreens names Stefano Pessina permanent CEO
Chicago Tribune
July 9, 2015 | BY Ameet Sachdev
Walgreens Boots Alliance on Thursday named Stefano Pessina chief executive officer, cementing his position at the helm of the international drugstore chain.
Walgreen settles Medicaid false billing case in New York/a>
Reuters
June 29, 2015 | BY Jonathan Stempel
Walgreen Co. will pay $2.55 million to settle charges by New York’s attorney general that a pharmacy unit improperly billed Medicaid for costly drugs to treat hemophilia patients, without proof that it actually delivered the drugs to those patients.
The plan to save Walgreens
Crain’s Chicago Business
June 12, 2015 | BY Brigid Sweeney
When you walk into a Walgreens a year from now, the store won’t look much different. You’ll still work your way through health and beauty products, candy and convenience foods, household miscellany—and cigarettes—to get to the pharmacist in the back. But the company itself will be transformed significantly under its new European management team led by President Alex Gourlay.
Walgreens Says HQ Won’t Leave U.S., Never Intended ‘Inversion’
Forbes
May 28, 2015 | BY Bruce Japsen
Following a turbulent year that included a merger into a global company, Walgreens Boots Alliance (WBA) took heat from shareholders over a perceived threat to relocate outside the U.S. for a lower tax rate, but the company’s chairman said the pharmacy giant will stay in the northern Chicago suburbs.
Walgreens Freezes Pay for U.S. Executives as Company Cuts Costs
Bloomberg
April 15, 2015 | BY Cynthia Koons
Walgreens Boots Alliance Inc. is freezing pay for senior U.S. executives as the drugstore chain undertakes a $1.5 billion cost-cutting program, the company said at an analyst meeting Wednesday.
Why Wall Street is in love with Walgreens’ Pessina
Crain’s Chicago Business
April 9, 2015 | BY Joe Cahill
If Stefano Pessina felt any opening-night jitters during his inaugural earnings conference call as boss of Walgreens Boots Alliance, they didn’t show. He got Wall Street’s version of rave reviews, as Walgreens shares jumped nearly 6 percent after yesterday’s confab with analysts to an all-time closing high of $92.62 a share. The Italian billionaire who merged his European drug company with what had been Walgreen last year took over as acting CEO Jan. 1 after elbowing out Greg Wasson.
Walgreens to close 200 stores, boost cost cutting
USA Today
April 9, 2015 | BY Kaja Whitehouse
Drugstore chain Walgreens Boots Alliance announced plans to close about 200 U.S. stores as part of its first earnings report since it merged with European drug retailer Alliance Boots last year.
Walgreens Boots CEO expects to do more deals in U.S.
Reuters
March 12, 2015 | BY Emma Thomasson
Stefano Pessina, the billionaire investor who engineered the deal that created pharmacy giant Walgreens Boots Alliance Inc., said he could imagine doing more deals in the United States as the healthcare system is shaken up by Obamacare.
Walgreens and CVS Declare War on Property Taxes
Bloomberg
March 6, 2015 | BY PATRICK CLARK
Walgreens boasts convenient locations, a wide array of products, and a killer tax strategy. When it works, local tax officials warn, kids and homeowners suffer.
Walgreen: Former CFO shouldn’t get $3.2 million severance
Chicago Tribune
March 3, 2015 | BY ELLEN JEAN HIRST
Walgreen says onetime chief financial officer Wade Miquelon — who is suing the company for defamation — is no longer eligible for his $3.2 million severance.
Walgreens Boots Alliance names Marco Pagni to head legal affairs
Chicago Tribune
February 3, 2015 | BY ELLEN JEAN HIRST
Walgreens Boots Alliance has appointed Marco Pagni, a former top executive at Alliance Boots, as its new global chief legal and administrative officer.
Walgreens Names Boots Executive as CFO as Pessina Tightens Grip
Bloomberg
January 26, 2015 | BY CRAYTON HARRISON
Walgreens Boots Alliance Inc. named an executive from its newly acquired operations in the U.K. and Europe to take over as chief financial officer, illustrating the shift in power under new leader Stefano Pessina.
Walgreens Steps Up Restructuring, Will Sell Home Infusion Business
Forbes
January 21, 2015 | BY BRUCE JAPSEN
The fate of the infusion business has been a topic of speculation in recent months as Walgreens looks to cut $1 billion in costs as part of its acquisition of European drugstore chain Alliance Boots. The home infusion business has about 4,700 employees, 89 infusion pharmacies and 110 alternate treatment sites in 40 states and is a leader in the market.
Walgreens Boots Legal Chief to Step Down
Chicago Tribune
January 16, 2015 | BY ELLEN JEAN HIRST
Walgreens Boots Alliance top attorney Thomas Sabatino is the latest executive to leave the company. Sabatino will join Hertz Global Holdings as senior executive vice president, chief administrative officer and general counsel starting Feb. 9.
Walgreen Slapped With Investor Lawsuit
Courthouse News Service
January 2, 2015 | BY LORRAINE BAILEY
Walgreen’s board and other top officials have been sued for allegedly failing to tell shareholders of an alleged multi-billion dollar profit shortfall.
Shareholders OK Walgreens-Alliance Boots deal
USA Today
December 29, 2014 | BY KEVIN MCCOY
Shareholders of Walgreens on Monday overwhelmingly approved the final phase of the pharmacy giant’s acquisition of European drugstore and health products counterpart Alliance Boots.
How Greg Wasson lost control of Walgreen
Crain’s Chicago
December 11, 2014 | BY BRIGID SWEENEY
The departure of Walgreen CEO Greg Wasson, announced yesterday, is an abrupt reversal of the plan circulated in August to put Wasson at the helm of the new company to be formed when Walgreen completes its acquisition of European heavyweight Alliance Boots.
Walgreen CEO to retire
Chicago Tribune
December 10, 2014 | BY ELLEN JEAN HIRST
Greg Wasson, Walgreen Co.’s president and CEO, will retire after the company finishes its acquisition of European counterpart Alliance Boots. Chairman James Skinner will become executive chairman of Walgreens Boots Alliance and Stefano Pessina, the executive chairman of Alliance Boots, will serve as acting CEO, pending a board search for a successor.
CtW Urges Vote Against Walgreen’s $14.7 Billion Deal For Alliance Boots
Wall Street Journal
December 3, 2014 | BY JOANN LUBLIN
A small shareholder has launched a fight against a Walgreen Co. takeover backed by the company and activist investor Jana Partners LLC. CtW Investment Group, an arm of labor federation Change to Win, wants stockholders of the biggest U.S. pharmacy chain to vote against Walgreen’s roughly $14.7 billion plan to buy the 55% of European drugstore chain Alliance Boots GmbH it doesn’t already own.
U.S. judge blocks Walgreens’ move to seal all material in ex-CFO suit
Reuters
November 6, 2014 | BY NANDITA BOSE
A Chicago court on Thursday rejected Walgreens’ move to block all disclosures of what the drugstore chain deems confidential information in a defamation lawsuit filed by its former chief financial officer.
Walgreen Faces Investor Pressure Over Claims in Ex-CFO’s Suit
Wall Street Journal
October 21, 2014 | BY JOANN LUBLIN
An activist adviser for union pension funds is pressing Walgreen Co. to postpone seeking shareholder approval of a major takeover until directors investigate allegations raised by former Chief Financial Officer Wade Miquelon in a defamation lawsuit.
Ex-CFOs Defamation Suit Shows Walgreen in Tumult
Wall Street Journal
October 19, 2014 | BY PAUL ZIOBRO
A lawsuit against Walgreen Co. paints a picture of the rough and tumble maneuverings inside a company grappling with disappointing earnings, activist hedge funds and a major deal.
Walgreen posts 4Q loss on Alliance Boots charge
Associated Press
September 30, 2014 | BY TOM MURPHY
Walgreen booked a $239 million loss in its fiscal fourth quarter after swallowing a huge accounting charge from its Alliance Boots acquisition, but the drugstore chain’s results still met Wall Street expectations.
Walgreen Bulls Bet Investor Activism Will Cure Tax Pain
Bloomberg
September 18, 2014 | BY INYOUNG HWANG
The entry of an activist shareholder into the board of Walgreen Co. (WAG) may be just what the doctor ordered for options traders betting on the largest U.S. pharmacy chain after a 17 percent plunge.
New Walgreen holding company to be incorporated in Delaware
Chicago Tribune
September 16, 2014 | BY PETER FROST
Walgreens is not headed to Europe. But it is going to Delaware. The nation’s largest drugstore chain, following in the footsteps of more than half of the nation’s publicly traded companies, plans to incorporate in The First State following the completion of its acquisition of its European counterpart.
Activist Investor Scores a Win at Walgreen
Wall Street Journal
September 8, 2014 | BY DAVID BENOIT
Walgreen Co., facing mounting pressure from analysts and shareholders, said it is giving activist investor Jana Partners LLC two board seats, a relatively large say for a shareholder with a little more than 1% of the company’s stock.