How low PFE after 2008 guidance lowered? $23, $22, $21 or
WAG is the tell. big switch to generics which Weasel keeps denying.
Walgreen blamed lower payments for popular generic drugs, along with higher operating expenses, for the downturn. Specifically, it said it had "a significant reduction" in gross profit dollars in the fourth quarter from the generic version of Zocor (simvastatin), which was introduced in June 2006. Retail pharmacies typically see the highest gross profit dollars in the first few months after a generic prescription drug becomes available, the Deerfield (Ill.) company explained.
"This quarter was negatively impacted by lower generic drug reimbursements, combined with higher salary and store expenses, and higher advertising costs," said Walgreen's Chairman Jeffrey A. Rein in a release. "Our expenses weren't in line with the level of reimbursements we were receiving