Report: Walgreens mulling sale of its pharmacy benefit management division

New York City Walgreens is looking to sell its pharmacy-benefits management business and has hired an adviser to run an auction, Bloomberg reported.

WHI and its mail-order pharmacy component generate in excess of $1 billion in annual revenues and fill or process more than 100 million prescriptions, and Bloomberg cited sources who estimated a sale of the PBM could fetch $500 million to $1 billion, depending on what assets are included in the deal.

Among the PBMs that have expressed interest in WHI, according to Bloomberg, are the industry’s top three players: CVS Caremark, Medco Health Solutions and Express Scripts.