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Aug 6- U.S. retailer Walgreen Co will make a full takeover of Europe's biggest pharmacy chain Alliance Boots, but won't use the deal to move its tax domicile overseas after fierce criticism of such tax-cutting moves at home.
Viagra's patent in China has expired and some analysts expect cheaper prices will bring a surge of demand for the storied erectile dysfunction drug.
**Drug retailer's shares down 5.7 pct at $68 in late afternoon trading. **Sky News reports that the pharmacy chain will remain headquartered in the United States, spurning the chance of a so-called tax-inversion deal, after it buys the rest of European drug chain Alliance Boots.
Aug 5- U.S. pharmacy chain Walgreen Co will remain headquartered in the United States, spurning the chance of a so-called tax-inversion, after it buys the rest of European drug chain Alliance Boots, Sky News reported on Tuesday.
Insurance companies are hurting from the high cost of hepatitis C drug Sovaldi. Arthur Caplan, NYU Langone Medical Center, and CNBC's Bertha Coombs, share their opinions.
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WASHINGTON, June 25- The senior U.S. senator from Illinois said on Wednesday he hopes that Walgreen Co, the major drugstore chain based in his state, will not relocate its tax home base to Switzerland, as some of the company's investors favor.
June 24- Walgreen Co, the largest U.S. drugstore operator, withdrew its profit and revenue forecasts for 2016, saying it had yet to work out several aspects of its planned acquisition of European drug retailer Alliance Boots Holdings Ltd..
June 24- Walgreen Co, the largest U.S. drug retailer, reported a lower-than-expected quarterly profit and said it was withdrawing its forecast for 2016 as it moves toward the complete acquisition of Alliance Boots Holdings Ltd. Walgreen said it would update investors on the Alliance Boots transaction and issue a new forecast by late July or early August.
June 24- Walgreen Co, the largest drug retailer in the United States, reported a 15.7 percent rise in quarterly profit, helped by strong growth in prescription sales. Net income rose to $722 million, or 75 cents per share, in the quarter ended May 31, from $624 million, or 65 cents per share, a year earlier. Sales rose 5.9 percent to $19.40 billion.
Paid members of the Arcview Group have committed to investing at least $50,000 into the budding cannabis industry. Members are in Denver hearing pitches from pot start-ups, reports CNBC's Josh Lipton.
June 19- Drugstore operator Rite Aid Corp said higher drug costs and a fall in reimbursement rates would continue into the second quarter, sending it shares down 4.4 percent. Rite Aid's shares have been on a tear for most of the past year, until the company warned on first-quarter profit and cut its full-year earnings forecast earlier this month.
June 19- Drugstore operator Rite Aid Corp's quarterly profit more than halved, hurt by higher-than-expected drug costs and a bigger-than-anticipated fall in reimbursement rates. Rite Aid said a delay in the expected fall in prices of generic medicines raised its drug costs.
The nation's largest drugstore chain, based in Illinois, is under pressure from some of its shareholders to do a deal known as a tax inversion with Alliance Boots Holdings Ltd that would shift Walgreen's tax domicile overseas.
June 5- Drug retailer Rite Aid Corp estimated first-quarter profit much below analysts' expectations due to higher-than-expected drug costs and a bigger-than-expected fall in reimbursement rates. Rite Aid's shares fell as much as 14 percent on Thursday on the New York Stock Exchange.