Will Walgreens' store closures derail its clinical trial aims? [Yahoo! Finance]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: Yahoo! Finance
Retail pharmacy giants have been straining under intense headwinds slamming into the industry this year — and Walgreens' most recent earnings report is another case in point. Facing a $3 billion loss in the fourth quarter, the company said in October that it plans to close about 1,200 lower performing stores over the next three years, citing changing consumer habits, rising competition from chains like Walmart and ongoing battles with pharmacy benefit managers over reimbursement as chief challenges. The pharmacy chain operates nearly 9,000 stores in the U.S. today. As Walgreens looks to regain footing, the company plans to reorient a focus on its “legacy strength as a retail pharmacy-led company,” CEO Tim Wentworth said on an earnings call What will the revamp mean for its ambitions in the clinical trials space? Launched in 2022, Walgreens' clinical trials business falls under its healthcare segment, Ramita Tandon, chief clinical trials officer, said. In the last quarter, the
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