Walgreens reports strong Q2 results thanks to COVID-19 vaccine rollout

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Walgreens Boots Alliance reported strong results for its second fiscal quarter and said money made from COVID-19 vaccinations should begin to offset pandemic-related losses, The Wall Street Journal reported March 31. 

The retail pharmacy giant said it has administered more than 8 million COVID-19 shots as of March 31, 4 million of those taking place in March. It expects to give a total of 26 million to 34 million shots by the end of its fiscal year on Aug. 31, the Journal reported. 

CMS announced early in March that it would increase the payment rate for vaccinations to $40 per dose, up from $28, which prompted Walgreens to boost its profit forecast. 

Walgreens reported $32.8 billion in sales, up almost 5 percent from the previous year, the Journal reported. Its profit also rose to $1.03 billion from $946 million last year. 

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