Walgreens posted net income of $821 million in the three months ended Nov. 30, compared to $1.05 billion reported in the same period a year prior. The company partially attributed the decline to its investment in China-based Guangzhou Pharmaceuticals Corp.
At the same time, Walgreens’ net sales increased 7.9 percent to $30.7 billion. Specifically, Walgreens’ first quarter pharmacy sales jumped 8.9 percent year over year to $22.5 billion. Walgreens’ relationship with Prime Therapeutics, and their formation of AllianceRx Walgreens Prime, boosted prescription volumes.
More articles on business:
Business loan growth was sluggish in 2017 and no one knows why
Unemployment is down: Why aren’t wages and inflation going up?
Amazon’s Prime service ships 5B+ items in 2017
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.