In The News

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



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.

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’


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


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.


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


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


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


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


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


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.