“America will go through a wave of consolidation both horizontally and vertically,” Mr. Pessina said, according to Forbes. “We want to be a part of it.”
Mr. Pessina’s M&A expectations are not surprising considering his career experience: The 73-year-old Italian-born CEO was head of European drug store chain Alliance Boots and helped drive its merger with Walgreens last year. Named the permanent CEO of the Walgreens Boots Alliance after serving as interim CEO since December, Mr. Pessina said the company will now have a global strategy, according to Forbes.
He also said now that the Patient Protection and Affordable Care Act has increased government influence on pharmacy reimbursement, it will closer resemble the European market where government health programs are dominant. These forces will escalate consolidation in the U.S., he said, according to Forbes.
On a recent call to investors, Mr. Pessina said Walgreens is exploring consolidation opportunities, according to Forbes.
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