Is Walgreens pharmacy in trouble?
Asked by: Ms. Verna Turcotte | Last update: July 11, 2025Score: 4.3/5 (62 votes)
Is Walgreens pharmacy in financial trouble?
Walgreens was one of the worst performing stocks in the S&P 500 in 2024, falling more than 63% over the year. However, the retail pharmacy giant showed some early signs of progress in results posted Friday, which led Walgreens to reaffirm its profit outlook for 2025.
Why is Walgreens struggling so much?
Walgreens and other pharmacies' struggles reflect the financial headwinds besetting the sector, which is reeling under the combined pressure from pharmacy benefit managers, changing consumer retail habits and, when it comes to the giant corporate chains, disastrous expansions.
Why are Walgreens pharmacies closing?
The thinning of Walgreens locations has been in the works. Walgreens said in October 2024 it planned to close about 1,200 underperforming stores across the U.S. as a strategy to offset declining profits resulting from low drug reimbursement rates and sluggish retail sales.
Is Walgreens going to stay in business?
Walgreens announced in 2024 it would be closing about 1,200 stores across the U.S. as it struggles with slumping consumer spending. The company plans to close about 500 stores in fiscal 2025, which ends in August 2025.
Pharmacist explains driving forces behind Walgreens closures
What is the future of Walgreens?
Walgreens Is Closing 1,200 Stores and Investors Should Expect Even More Big Moves in the Future. Its financials have been abysmal with the company often reporting a negative operating margin. Walgreens plans to close 1,200 stores over the next few years to reduce its expenses.
What is the new name for Walgreens?
Walgreens Specialty Pharmacy and Walgreens Mail Service will be the new names for AllianceRx Walgreens Pharmacy and Walgreens community-based specialty pharmacies, effective August 1, 2024.
What is the controversy with Walgreens pharmacy?
The government's complaint alleges that, from approximately August 2012 through the present, Walgreens knowingly filled millions of prescriptions for controlled substances that lacked a legitimate medical purpose, were not valid, and/or were not issued in the usual course of professional practice.
What is the Walgreens scandal?
Walgreens settles allegations of fraudulent billing with DOJ. The Illinois-based pharmacy giant has agreed to pay almost $107 million to settle claims it billed Medicare, Medicaid and other government programs for prescriptions that were never dispensed.
Who is buying out Walgreens?
Walgreens is reportedly exploring selling itself to private equity firm Sycamore Partners. It might be the right decision for the company, some experts say.
What is going on with Walgreens pharmacy in 2024?
Walgreens focused on growing specialty pharmacy, data analytics within healthcare business. Walgreens reported a loss of $3 billion in the fourth quarter and plans to close 1,200 stores over the next three years as part of the retail drugstore chain's ongoing turnaround strategy amid a rocky fiscal 2024.
What is the best pharmacy to use?
Good Neighbor Pharmacy ranks highest among brick-and-mortar chain drug store pharmacies for an eighth consecutive year, with a score of 775. Good Neighbor received top scores in all study dimensions, including "level of trust with pharmacy." Health Mart (729) ranks second and Rite Aid Pharmacy ranks third (650).
Is CVS going out of business in 2024?
Your local CVS may be closing its doors for good. The drugstore chain is in the process of shuttering "roughly 300" locations across the country in 2024, a spokesperson confirmed to Good Housekeeping. That includes the dozens of pharmacies in Target stores.
What is the outlook for Walgreens?
Based on short-term price targets offered by 15 analysts, the average price target for Walgreens Boots Alliance comes to $11.13. The forecasts range from a low of $7.00 to a high of $15.00. The average price target represents a decline of 5.2% from the last closing price of $11.74.
Which is better, CVS or Walgreens?
What's Better: CVS or Walgreens? When comparing CVS vs. Walgreens, customer reviews indicate that Walgreens is the better pharmacy. However, other factors, such as cost and rewards programs, give CVS a competitive edge, putting it slightly ahead of Walgreens in these areas.
Why are small pharmacies going out of business?
This has been happening all over the country, a New York Times investigation found. P.B.M.s, which employers and government programs hire to oversee prescription drug benefits, have been systematically underpaying small pharmacies, helping to drive hundreds out of business.
Is Walgreens going under?
Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors.
Is there a lawsuit against Walgreens pharmacy?
Walgreens in 2022 agreed to pay up to $5.52 billion over 15 years to resolve thousands of lawsuits by state and local governments accusing the company of fueling the U.S. opioid epidemic.
What is Walgreens problem?
Walgreens' problem, first and foremost, is that it's more of a traditional pharmacy than CVS. Walgreens has slipped behind CVS because it's smaller than CVS, giving it less scale to negotiate prices with insurers and other health care entities that pay for most of the prescriptions people pick up.
Why are pharmacists walking out of Walgreens?
Why are pharmacy staff walking out? For years, many retail pharmacy employees have complained that companies such as Walgreens and CVS are placing unreasonable performance demands on employees, without providing enough staffing or resources for them to safely and responsibly execute tasks.
What is the 28 day rule at Walgreens?
It refers to the number of days you may need to wait between refills of 30-day prescriptions that are considered controlled substances. If you have a medication that follows the 28-day rule on a 30-day supply, it means you can get a refill no earlier than 2 days before the 30 days are up.
Is Walgreens pharmacy owned by Walmart?
Walgreens was started by Charles Walgreen. Walmart was founded by Sam Walton (hence why the bulk store side is called Sam's Club). Supposedly, they were acquainted and friendly with each other, but no relation.
Who is Walgreens merging with?
The new global enterprise combines Walgreens, the largest drugstore chain in the USA; Boots, the market leader in European retail pharmacy; and Alliance Healthcare, the leading international wholesaler and distributor.
Why is Walgreens stock tanking?
Although the S&P 500 index rose by more than 20% for the year, Walgreens dropped by a staggering 64% due to consumer spending headwinds and poor performance from its primary care business efforts.