Walgreens Profit Shrinks After Opioid Deal, Fewer Vaccinations
Walgreens Boots Alliance Inc.’s quarterly sales fell and earnings plunged as revenue from Covid-19 vaccinations dried up and the pharmacy chain paid out an opioid settlement.
The Deerfield, Ill., drugstore chain has relied on demand for Covid-19 tests and vaccines to power sales over the past year. Demand dropped off significantly in its fiscal third quarter, as Walgreens administered 4.7 million vaccinations, down from 11.8 million in the Omicron-driven prior quarter, the company said Thursday.
Walgreens Boots Alliance Inc.’s quarterly sales fell and earnings plunged as revenue from Covid-19 vaccinations dried up and the pharmacy chain paid out an opioid settlement.
The Deerfield, Ill., drugstore chain has relied on demand for Covid-19 tests and vaccines to power sales over the past year. Demand dropped off significantly in its fiscal third quarter, as Walgreens administered 4.7 million vaccinations, down from 11.8 million in the Omicron-driven prior quarter, the company said Thursday.
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