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Walgreen Co. Message Board

  • robbsbeach robbsbeach Nov 20, 2010 1:15 PM Flag

    PBM To small

    Medco turned down Walgreens PBM sale offering, Walgreens CEO's guidance when questioned by a Wall street analysts recently, said that he does not respond to rumors and speculation.

    However, Bank of America it has been reported by Reuters has been in talks with CVS/CAREMARK, Express Scripts, Medco, and other companies that might have an interest in purchasing this segment of Walgreens business.

    Question
    Is the CFO selling off this part of the business with out the CEO's knowledge??
    Is the CEO out of the loop on what is being sold off from the assets Walgreens owns.
    Is the company fearful of informing investors of the divestiture of PBM business contacts and Assets
    Makes one wonder if the 1(B) savings goal can only be achieved by selling off business units much like out-sourcing the accounting function and selling the building it houses.
    Are these Walgreens property sales a source of the reported income now.. in into the 2011 earning announcements.

    What is behind this failure to answer a straight forward question?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Let's re-read the first paragraph from the Bloomberg article dated October 25:

      <<Walgreen Co., the largest U.S. drug- store chain, is looking to sell its pharmacy-benefits management business and has hired an adviser to run an auction, said three people with knowledge of the matter.>>

      Three people with knowledge of the matter sounds like a rumor and not a fact.

      I think the CEO is wise not to negotiate deals of any sort in the media.

      I recall seeing Wasson on Mad Money the day before the DR deal went down. Should he have said anything about that?? No, is the answer.

      • 1 Reply to irunthe262
      • ESRX will pick it up, I doubt SXCI or anyone else is really interested.

        ** WAG should be able to meet SG&A goals. They will cut the RPH and techs at stores. Expect no raises and/or bonuses at store levels. RPH saturation has occurred, new grads are offered part time positions and with more schools with larger class sizes expect WAG and CVS to offer less and less wages and benefits.

        I always said at some point the retail transaction piece can be more profitable than actually dispensing the RX. MHS sees this and will capitalize on it. WAG I bet also wanted a premium on their PBM. Moreover, I wonder if the relationship isnt as strong between the two powerhouses. Recall when CVS and CMX came together, there was speculation that MHS and WAG would get married, I doubt WAG wanted anything to do with MHS. MHS has since moved on and gotten stronger having taken from CMX (FEP and Cali).

        WAG has yet to understand how to encounter the fact that lower reimbursement are on the horizon. As GDR will hit 80% soon, what will be the profitability on generic scripts? Consolidation in the generic industry, and lack of foreign generic company market share, will squeeze WAG. Note Teva is 1/3 generic RX scripts.

        No wonder the CFO drinks!

    • Stupid Yank Question #1
      "Is the CFO selling off this part of the business with out the CEO's knowledge??

      Answer: of course not, only a moron would ask such a STUPID QUESTION! This might happen at poorly run companies like Darden, Walmart, CVS and undeniably DSCM but Walgreen executives work together.

      Stupid Yank Question #2
      "Is the CEO out of the loop on what is being sold off from the assets Walgreens owns?"

      Answer: of course not. This might happen at poorly run companies like Darden, Walmart, CVS and undeniably DSCM but Walgreen executives work together.

      Stupid Yank Question #3
      "Is the company fearful of informing investors of the divestiture of PBM business contacts and Assets?

      Answer:This is why we elect a Board of Directors so we don't all have to be consulted before a deal gets done and in the business world the less that rumors are fueled by blabbermouths the sooner and better the deal is. It will get done but just not to CVS! Also something Yank doesn't realize is that running a COMPANY is not like running one hour photo, a task for which he was so unsuited that he was TERMINATED!

      Hahahahahahahahahahahahahahahahahahahahahaha!!!!!!!!!!!!!!!!

      Stupid Yank Question #4

      "What is behind this failure to answer a straight forward question?"

      First of all MYOB! You are NOT a stockholder at Walgreens and only serve here as comic relief(unintentionally) with your incompetent attempts at bashing! You can't spell, you can't add and you can't own stock at Walgreens! They wouldn't sell one share to you!

      Hahahahahahahahahahahahahahahahahahahahahahahaha!!!!!!!!!!!!!

 
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