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Walgreen : Shares of the largest drugstore chain in the U.S. fell 2.35% to $29.13 today after Barclays cut WAG's 2011 earnings estimate to $2.05 from $2.55 following CVS Caremark Corp.'s decision to speed up Walgreen's exit from its retail pharmacy network.
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Pharmacy management includes mail-order service, retail pharmacy networks, specialty pharmacy management, call center pharmacies and reimbursement services.
Walgreens CEO Greg Wasson said the company was surprised that Express Scripts made it clear they no longer have an interest in a meaningful relationship with the drugstore chain, as it was the largest retail provider in the pharmacy network.
"The loss of a major retail chain in a national pharmacy network is always a concern to employers that want to ensure their workers have access to obtain prescription drugs," said Larry Boress, president and chief executive of the Midwest Business Group on Health, a coalition of large employers that buys more than $3 billion in medical care services annually.
The Pharmaceutical Retail segment engages in the operation of a network of retail pharmacy stores.
Price discrimination within MLICs is unlikely to be feasible when drugs are sold to largely self-pay patients in retail pharmacy channels served by common distribution networks.
4 Price discrimination is unlikely to be sustainable in retail pharmacy markets in MLICs, where most consumers pay cash and retailers are served by common distribution networks.
"To Merck we are basically another retail pharmacy," he said.
The applicants include retail pharmacy groups, health insurers, pharmacy benefit managers and other companies.
The retail pharmacy industry said the law was a victory for consumer choice and customer service.
The patient will still drop off and pick up their prescriptions at the retail pharmacy.
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