|
The
largest U.S. drugstore chain also raised the lower end of its
adjusted profit forecast for the year ending August 2017.
Walgreens, which is awaiting regulatory approval for its $9.5
billion takeover of smaller rival Rite Aid Corp <RAD.N>, said it
expects to close the deal early this year.
It had previously extended the merger agreement till Jan. 27.
Walgreens entered partnerships last year with PBMs such as
Express Scripts Holding Co <ESRX.O> and OptumRx and insurer
UnitedHealthcare <UNH.N> which helped boost sales in the first
quarter.
Net income attributable to Walgreens fell to $1.05 billion, or
97 cents per share, in the first quarter ended Nov. 30, from
$1.11 billion, or $1.01 per share, a year earlier.
Excluding items, the company earned $1.10 per share, beating the
average analysts' estimate of $1.09, according to Thomson
Reuters I/B/E/S.
Sales fell to $28.50 billion from $29.03 billion, falling for
the first time in four years and missing the analyst estimate of
$29.23 billion.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by
Shounak Dasgupta)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
