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Walgreen to split with Express Scripts, reports 30% rise in Q3 profit
Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.
Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.
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Walgreen sales up 5.6% in May, completed acquisition
Deerfield, Ill. -- Walgreen Co. said its same-store sales role 5.6% in May, better than Wall Street expected.
Walgreen said pharmacy revenue from those stores rose 6.7% as it filled 7.1% more prescriptions. Front-end same-store sales grew 3.6%.
The company also said it completed its acquisition of Drugstore.com, an online health and beauty retailer. Walgreen agreed to buy the company in March for $429 million.