Walgreens Shares Soar 28% After Sales Beat Forecasts
Branded Drug Prices and Prescription Volumes Drive $39 Billion Revenue
Walgreens’ pharmacy operations are stabilizing, reinforcing the strategy to prioritize that business, CEO Tim Wentworth said in a statement. (David Paul Morris/Bloomberg News)
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Walgreens Boots Alliance Inc. reported quarterly sales that surpassed Wall Street’s expectations, spurring the shares to their biggest gain in 45 years and easing pressure on the drugstore chain as it mulls strategic options including a sale.
Revenue came to $39 billion for the fiscal quarter ended in November, driven by higher prices for branded drugs and prescription volumes at the company’s U.S. retail pharmacy divisio…
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