Walgreens pays for half of Shopko's pharmacies

Walgreens will acquire about half of Shopko's pharmacies, according to The Wall Street Journal.

Shopko announced plans to auction off 146 pharmacies to shore up its finances after filing for Chapter 11 bankruptcy protection earlier this month. Shopko expects to obtain $52 million from the sales. 

While there were about 20 companies that were successful bidders, Walgreens walked away with the most pharmacies. Other winners included Albertsons, CVS Pharmacy and Rite Aid.

A hearing to approve the sales to the successful bidders will be held Jan. 28 in a U.S. Bankruptcy Court in Omaha, Neb.

More articles on pharmacy:
Cancer therapy prices prevent access to treatment, WHO says
Despite controversies, J&J ranks among Fortune's most-admired companies
Bristol-Myers swings to $1.2B profit in Q4

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months