Market Overview

Walgreens and Alliance Boots Form Joint Venture Company


Walgreens (NYSE: WAG) (Nasdaq: WAG), the nation's largest drugstore chain, today announced that it has formally set up a new company, jointly owned with Alliance Boots, as part of their strategic partnership's synergy program.

The new company, called Walgreens Boots Alliance Development GmbH, is based in Bern, Switzerland.

About Walgreens

As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion, Walgreens ( vision is to become America's first choice for health and daily living. Each day, Walgreens provides more than 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. The company operates 7,944 drugstores in all 50 states, the District of Columbia and Puerto Rico. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.

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