Walgreens Org Chart and Sales Intelligence Blog
Walgreens Boots Alliance
108 Wilmot Road
Deerfield, IL 60015
Main Phone: (847) 315-3700
Industry: Pharmaceutical Retailers
Full Time Employees: 223,000
Walgreens Blog Highlights
Walgreens Boot Alliance, Inc (NASDAQ: WBA) is ranked #19 on the 2020 Fortune 500 list
- AmerisourceBergen and Walgreens Boots Alliance Announce Strategic Transaction
- Walgreens Boots Alliance Appoints New CEO
- Walgreens Boots Alliance and McKesson Complete the Formation of German Wholesale Joint Venture
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AmerisourceBergen and Walgreens Boots Alliance Announce Strategic Transaction
AmerisourceBergen Corporation (NYSE: ABC) and Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced strategic agreements under which AmerisourceBergen will acquire the majority of Walgreens Boots Alliance’s Alliance Healthcare businesses for approximately $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock. AmerisourceBergen’s acquisition of Alliance Healthcare will provide even stronger support for pharmacies and pharmacists across the globe and integrated solutions for pharmaceutical manufacturers. Walgreens Boots Alliance will be able to increase its focus on expanding its core retail pharmacy businesses, bringing even greater healthcare offerings to patients and customers and further accelerating its progress on its clear set of strategic priorities.
“This strategic agreement with AmerisourceBergen, which we consider to be the world’s leading pharmaceutical wholesaler, is a very positive development for the two companies. This deal will enable significant value creation for both companies and will generate new synergies in addition to those already captured. It is a logical step following the success of our long-term strategic relationship with AmerisourceBergen which has been a strong and trusted partner since 2013,” said Stefano Pessina, Executive Vice Chairman and CEO, Walgreens Boots Alliance. “The transaction will fuel higher future investments to grow and transform our core retail pharmacy and healthcare businesses, and is EPS accretive long-term for Walgreens Boots Alliance.”
Walgreens Boots Alliance Appoints Rosalind Brewer as CEO, and Stefano Pessina as Executive Chairman
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced the appointment of Rosalind (Roz) Brewer as the company’s Chief Executive Officer, effective on March 15, 2021. Brewer will also join the WBA Board of Directors upon assuming the role. She succeeds Stefano Pessina who, as previously announced, will transition to the role of Executive Chairman of the Board of WBA. “Our global position as an accessible healthcare provider in the communities we serve has never been so critical, and I am very confident in the company’s prospects for growth under Roz’s leadership”
Pessina has served as the CEO of the combined company for six years following the merger between Walgreens and Alliance Boots in December 2014. During his tenure, he transformed and modernized the company into a global pharmacy, health and wellness leader, significantly expanding WBA’s retail footprint and investing in digitalization. Pessina will replace James (Jim) Skinner as Executive Chairman of WBA in March 2021. Skinner will remain on the WBA Board as a non-executive director to facilitate a smooth leadership transition.
Walgreens Boots Alliance and McKesson Complete the Formation of German Wholesale Joint Venture
Walgreens Boots Alliance (Nasdaq: WBA) and McKesson Corporation (NYSE: MCK) today announced the completion of their previously announced agreement to create a joint venture combining their respective pharmaceutical wholesale businesses in Germany, Alliance Healthcare Deutschland (AHD) and GEHE Pharma Handel (GEHE). WBA holds a 70 percent controlling equity interest in the joint venture and McKesson holds the remaining 30 percent interest. “At Walgreens Boots Alliance, we all look forward to working together with McKesson Corporation on this joint venture,” said Ornella Barra, co-chief operating officer, Walgreens Boots Alliance. “It is a very exciting step for our Pharmaceutical Wholesale Division and a unique chance for us to further develop innovative services to manufacturers and pharmacists in Germany.”
“The completion of this strategic partnership with Walgreens Boots Alliance enables us to strengthen and secure the future of pharmaceutical distribution in the German market,” said Kevin Kettler, chairman of the management board and president McKesson International. “Together, we look forward to delivering a successful model of operations to benefit the German healthcare ecosystem of patients, pharmacies and manufacturers.” With future challenges in the healthcare sector, the new company is committed to strengthening the pharmacist's position as a healthcare professional, creating innovative added value services and significantly enhancing digitalization and operational excellence.
Walgreens & VillageMD to Open 500 - 700 Full-Service Doctor Offices within Next 5 Years in a Major Industry First
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) and VillageMD announced today that Walgreens will be the first national pharmacy chain to offer full-service doctor offices co-located at its stores at a large scale, following a highly successful trial begun last year. This expanded partnership will open 500 to 700 “Village Medical at Walgreens” physician-led primary care clinics in more than 30 U.S. markets in the next five years, with the intent to build hundreds more thereafter.
“This rollout is a major advancement of one of Walgreens Boots Alliance’s four key strategic priorities, Creating Neighborhood Health Destinations,” said Stefano Pessina, executive vice chairman and CEO, Walgreens Boots Alliance. “These clinics at our conveniently located stores are a significant step forward in creating the pharmacy of the future, meeting many essential health needs all under one roof as well as through other channels.”“In the U.S., we spend $4 trillion per year on healthcare, over 85 percent of that is tied to patients with chronic diseases. To improve our healthcare system and reverse the trajectory of health spending, we must meet the needs of all patients. This partnership allows us to unleash the power of primary care doctors and pharmacists, enabling them to work in a coordinated way to enhance the patient experience,” said Tim Barry, chairman and CEO, VillageMD. “The results of our initial pilot clinics highlight that these outcomes are infinitely achievable.”
Walgreens Boots Alliance creates personalized, omnichannel healthcare and shopping experiences powered by new customer experience management technology and data platform
Walgreens Boots Alliance, Inc. (Nasdaq: WBA), today announced an expansion of its strategic partnership with Microsoft and Adobe to launch a world-class digital experience and customer insights platform to deliver personalized healthcare and shopping offerings. It will provide Walgreens and Boots customers with products and services from its global pharmacy and retail businesses wherever, whenever and however they may want them. Establishing this platform will advance WBA into the second phase of its digital transformation, one of its key strategic priorities. “At WBA, our mission is to deliver extraordinary experiences that enrich our customers’ lives. Capabilities to combine previously disparate customer data sets, including information from more than 100 million members of our loyalty programs, into more singular, unified view of the customer – powered by these modern technology platforms – will enable us to truly personalize our omnichannel healthcare and retail offering,” said Vineet Mehra, global chief marketing officer, Walgreens Boots Alliance.
”For more than a century, WBA’s iconic brands, including Walgreens and Boots, have earned the trust of patients and customers by serving their needs in some of the most personal categories – health, wellness and beauty. The strategic partnership with Microsoft and Adobe allows WBA to harness insights to deliver more engaging and personalized experiences, while respecting and protecting privacy choices of patients and customers. This can help increase access to key services within pharmacy and beauty, among other categories, while driving convenience and providing more options to address daily needs. Data privacy and security are fundamental design principles in the development of the technology, underscored by Microsoft’s investments in building a trusted cloud platform.
Walgreens Earnings Call Highlights
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) Q1 2021 Earnings Conference Call
January 7, 2021
Executives in Attendance
- Gerald Gradwell - Senior Vice President of Special Projects and Investor Relations
- Stefano Pessina - Executive Vice Chairman and Chief Executive Officer
- James Kehoe - Global Chief Financial Officer
- Alex Gourlay - Co-Chief Operating Officer
Analysts in Attendance
- Ricky Goldwasser - Morgan Stanley
- Robert Jones - Goldman Sachs
- Elizabeth Anderson - Evercore
- A.J. Rice - Credit Suisse
- Michael Cherny - Bank of America
- Eric Percher - Nephron Research
- George Hill - Deutsche Bank
Comments from Stefano Pessina, CEO:
"The pandemic has demonstrated very clearly the importance of one of our key strengths in being a convenient healthcare provider in the heart of the community. Our capabilities in this area have been significantly enhanced by the investment that we have made to date in the acceleration of our digital strategy and the expansion of our healthcare services."
"We have transformed the data infrastructure of our businesses and combined it with enhancement in our fulfillment capabilities. As a result, we now provide a model and flexible customer offering that is both multi-channel and a truly personalized service. Through the pandemic, we have also materially improved the capacity of our systems."
"Today, a sizable amount of our business is transacted digitally and fulfilled via pickup, either in store or the drive-thru via curbside collection or home delivery. In the months to come, you will hear a lot more from us about our new digitally-enabled products and services, as we continue to invest in accelerating our program to update our customer offering, infrastructure and fulfillment capacity."
"We also continue to look at how we best focus our associates and assets to the greatest effect. You have seen these clearly in some of our recent announcements. We have just announced a significant transaction with our longstanding partner, AmerisourceBergen, to sell them our international health distribution business, Alliance Healthcare."
"While Alliance Healthcare was always a very important part of our company, our focus must be on delivering against the significant opportunities we have in our retail pharmacy business. The transaction positions Alliance Healthcare as key part of ABC, a company dedicated to and focused on its area of business and its true expertise."
Comments from James Kehoe, CFO:
"We estimate a COVID-19 AOI impact of approximately $290 million to $325 million, and this was worse than the guidance range of $250 million to $300 million we provided earlier. Nevertheless, the impact was much lower than the third and fourth quarters of last year."
"In summary, we are actively managing the challenges and remain confident of delivering strong growth in the second-half of the fiscal year. Cash generation was strong in the quarter with free cash flow of $763 million, 13% higher than prior year. And finally, we are maintaining our full-year guidance of low single-digit growth in adjusted earnings per share on a constant currency basis."
Walgreens Boot Alliance Board of Directors
|James Skinner||Executive Chairman||Walgreens Boots Alliance, Inc.|
|Stefano Pessina||Executive Vice Chairman and CEO||Walgreens Boots Alliance, Inc.|
|José (Joe) E. Almeida||Chairman of the Board and CEO||Baxter International Inc.|
|Janice M. Babiak||Former Managing Partner||Ernst & Young LLP|
|David J. Brailer, MD||Chairman||Health Evolution Partners|
|William C. Foote||Lead Independent Director||Walgreens Boots Alliance, Inc.|
|Ginger L. Graham||Former President and CEO||Amylin Pharmaceuticals|
|Valerie Jarrett||Former Senior Advisor to President Barack Obama||U.S. Government|
|John A. Lederer||Senior Advisor||Sycamore Partners|
|Dominic Murphy||Co-Head of UK Investments||CVC Capital Partners|
|Nancy M. Schlichting||Former CEO||Henry Ford Health System|
Walgreens Boot Alliance Executive Leadership
|James A. Skinner||Executive Chairman|
Executive Vice Chairman and Chief Executive Officer
|Ornella Barra||Co-Chief Operating Officer|
|Alex Gourlay||Co-Chief Operating Officer|
Executive Vice President and Global Chief Financial Officer
Executive Vice President, Global Chief Administrative Officer and General Counsel
Executive Vice President and Global Chief Human Resources Officer
Senior Vice President, Global Controller and Chief Accounting Officer
Walgreens Annual Report Highlights
Walgreens Boots Alliance, Inc., a Delaware corporation (“Walgreens Boots Alliance”), is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, and through its convenient retail locations, digital platforms and health and beauty products with sales of $139.5 billion in the fiscal year ended August 31, 2020.
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United States and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 251 countries and employ more than 450,0001 people. The Company is a global leader in retail and wholesale pharmacy and, together with the companies in which it has equity method investments, has over 21,0001 stores in 111 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 4251 distribution centers delivering to more than 250,0002 pharmacies, doctors, health centers and hospitals each year in more than 201 countries.
Walgreens Boots Alliance provides customers with convenient, omni-channel access through the portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, NICE!, Soap & Glory, Liz Earle, Finest Nutrition, Botanics, Well Beginnings, Sleek MakeUP and YourGoodSkin. The company's global brands portfolio is enhanced by in-house product research and development capabilities.
Walgreens Financial Highlights
|Fiscal Year Ends||August 30, 2021|
|Most Recent Quarter||January 7, 2021|
|Return on Assets||2.00%|
|Return on Equity||-3.18%|
|Revenue Per Share||162.11|
|Quarterly Revenue Growth||5.70%|
|Net Income Avi to Common||-697M|
|Quarterly Earnings Growth||N/A|
|Total Cash Per Share||1.29|
|Book Value Per Share||23.22|
|Cash Flow Statement|
|Operating Cash Flow||5.62B|
|Levered Free Cash Flow||2.63B|
Walgreens Relationship with AmerisourceBergen
In March 2013, Walgreens, Alliance Boots GmbH (“Alliance Boots”) and AmerisourceBergen Corporation (“AmerisourceBergen”) announced various agreements and arrangements, including a ten-year pharmaceutical distribution agreement between Walgreens and AmerisourceBergen pursuant to which the Company sources branded and generic pharmaceutical products from AmerisourceBergen in the United States and an agreement which provides AmerisourceBergen the ability to access generic pharmaceutical products through the Company’s global sourcing enterprise, Walgreens Boots Alliance Development GmbH.
As of August 31, 2020, the Company owned 56,854,867 AmerisourceBergen common shares representing approximately 28% of the outstanding AmerisourceBergen common stock and has designated one member of
AmerisourceBergen’s board of directors. As of August 31, 2020, the Company can acquire up to an additional 8,398,752 AmerisourceBergen shares in the open market and thereafter designate another member of AmerisourceBergen’s board of directors, subject in each case to applicable legal and contractual requirements. The Company accounts for its investment in AmerisourceBergen using the equity method of accounting, subject to a two-month reporting lag, with the net earnings attributable to the investment classified within the operating income of the Company’s Pharmaceutical Wholesale segment.
Walgreens Business Segments
Walgreens Boot alliance operations are organized into three divisions, which are also reportable segments:
- Retail Pharmacy USA;
- Retail Pharmacy International; and
- Pharmaceutical Wholesale.
For fiscal 2020, our segment sales were: Retail Pharmacy USA, $107.7 billion; Retail Pharmacy International, $10.0 billion; and Pharmaceutical Wholesale, $24.0 billion.
Retail Pharmacy USA
The Retail Pharmacy USA division (excluding equity method investments) has pharmacy-led health and beauty retail offerings in 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands, each focused on helping people feel happy and healthy. The Company operated 9,021 retail stores in the division as of August 31, 2020. The principal retail pharmacy brands in the division are Walgreens and Duane Reade. The Company is a market leader in the United States and, as of August 31, 2020, approximately 78% of the population of the United States lived within five miles of a Walgreens and Duane Reade retail pharmacy.
Retail Pharmacy International
The Retail Pharmacy International division (excluding equity method investments) has pharmacy-led health and beauty retail businesses in eight countries, each focused on helping people look and feel their best. The Company operated 4,428 retail stores in the division as of August 31, 2020 (see properties in part I, item 2 below for information regarding geographic coverage) and has grown its omni-channel platform, including its online presence, in recent years. The Company’s principal retail pharmacy brands are Boots in the United Kingdom, Thailand, Norway, the Republic of Ireland and The Netherlands, Benavides in Mexico and Ahumada in Chile. In Europe, the Company is a market leader and its retail stores are conveniently located with pharmacists well placed to provide a significant role in the provision of healthcare services, working closely with other primary healthcare providers in the communities the Company serves.
The Pharmaceutical Wholesale division consists of the Alliance Healthcare pharmaceutical wholesaling and distribution businesses and an equity method investment in AmerisourceBergen. The Pharmaceutical Wholesale division (excluding equity method investments), which mainly operates under the Alliance Healthcare brand, supplies medicines, other healthcare products and related services to more than 115,000 pharmacies, doctors, health centers and hospitals each year from 306 distribution centers in 11 countries, primarily in Europe, as of August 31, 2020.
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