Wba stock price – walgreens boots alliance inc. stock quote (u.s. nasdaq) – marketwatch tgas advisors


Shares of many players in the U.S. pharmaceutical supply chain fell in midday trade after Centers for Medicare and Medicaid Services Administrator Seema Verma made critical comments about the U.S. drug system in a Monday speech. Describing Medicare’s Part D system for prescription drugs, Verma noted that middlemen called pharmacy-benefit managers are paid by both health plans for negotiating drug prices and drugmakers, in the form of a rebate. "The bottom line is that all of the incentives are lined up for manufacturers to set higher and higher prices," Verma said, according to prepared remarks at industry group the American Hospital Association’s annual meeting. CVS Health Corp. shares dropped 2%, Walgreens Boots Alliance shares dropped 2.5%, Express Scripts shares declined 0.8% and UnitedHealth Group Inc. shares dropped 0.7%. Anthem Inc. , which plans to launch its own pharmacy-benefit manager in 2020, had shares drop nearly 2%. Drug distributors’ shares also fell, with AmerisourceBergen Corp. dropping 1.6%, McKesson Corp. dropping 1.6% and Cardinal Health Inc. dropping 0.8%. The drops occurred as the Health Care Select Sector SPDR rose 0.1%, the S&P 500 gained 0.5% and the Dow Jones Industrial Average rose 0.6%.

Rite Aid Corp. said Thursday it had net income of $767 million, or 73 cents a share, in the fourth quarter, after a loss of $21 million, or 2 cents a share, in the year-earlier period. The company’s loss from continuing operations came to 46 cents a share, or adjusted EPS of 2 cents a share, compared with a FactSet consensus for a loss of 3 cents a share. The company completed the sale of 1,932 stores and related assets to Walgreens Boots Alliance Inc. on March 27, booking an after-tax gain of $1.2 billion to $1.3 billion. It will transfer 3 distribution centers and related inventory after September 1. Rite Aid also entered a merger agreement with Albertsons Cos. to transform the drug store chain into a food, health and wellness chain. The loss from continuing operations was mostly due to a revaluation of deferred tax assets following the December tax revamp, and a goodwill impairment charge related to the company’s pharmacy services segment. Revenue fell to $5.661 billion from $5.880 billion, but was ahead of the FactSet consensus of $5.571 billion. The company said it still expects to book a loss of $40 million to $95 million in fiscal 2019 and to generate sales of $21.7 billion to $22.1 billion. Shares were last up 2.4% premarket and are down 64% in the last 12 months, while the S&P 500 has gained about 13%.

Walgreens Boots Alliance Inc. said Thursday it supports Surgeon General Jerome Adams’s advisory on the opioid overdose-reversing drug nalaxone, and said it was committed to making nalaxone easier to obtain. Nalaxone is sold under the brand name Narcan, which is an FDA-approved nasal form of nalaxone made by privately held Adapt Pharma. Walgreens said it stocks Narcan in all of its pharmacies, and that it has adopted Center for Disease Control and Prevention recommendations to educate patients about Narcan. Surgeon General Adams emphasized the importance of carrying naloxone, saying knowing how to use it and keeping it within reach can save lives. "Research shows that when naloxone and overdose education are available to community members, overdose deaths decrease in those communities," Adams stated. "Therefore, increasing the availability and targeted distribution of naloxone is a critical component of our efforts to reduce opioid-related overdose deaths and, when combined with the availability of effective treatment, to ending the opioid epidemic." Walgreens stock, which was still inactive in premarket trade, has shed 10.2% over the past three months, while the S&P 500 has lost 3.6%.

Shares of Walgreens Boots Alliance Inc. rallied 4.8% in premarket trade Wednesday, after the drugstore chain reported second-fiscal-quarter results that beat expectations and raised earnings guidance. Net income for the quarter ending Feb. 28 rose to $1.35 billion, or $1.36 a share, from $1.06 billion, or 98 cents a share, in the same period a year ago. Excluding nonrecurring items, adjusted earnings per share came to $1.73, above the FactSet consensus of $1.55. Revenue grew to $33.02 billion from $29.45 billion, beating the FactSet consensus of $32.20 billion as domestic retail pharmacy and pharmaceutical wholesale sales both rose above expectations. The company raised its 2018 adjusted EPS guidance range to $5.85 to $6.05 from $5.45 to $5.70. The company expects a benefit of $350 million in fiscal 2018 from recent tax legislation. The stock has dropped 9.6% over the past three months through Tuesday and 21.2% over the past 12 months, while the S&P 500 has gained 10.8% over the past year.