It's not that being a retailer is a bad thing. But investors want drugstores to reinvent their businesses as Amazon's threat looms.
The drugstore chain plans to make video visits available nationwide this year through a partnership with Teladoc Health. CVS already offers virtual appointments and the District of Columbia.
Investors don't seem to have much confidence in Walgreens Boots Alliance, and the drugstore chain hasn’t said much to ease their concerns.
Walgreens Boots Alliance taps Takeda Pharmaceutical's James Kehoe to take over as CFO.
Shares of AmerisourceBergen and Walgreens Boots Alliance slid after CNBC reported deal talks have cooled and a takeover looks unlikely.
The 76-year-old Stefano Pessina started with a local family drug distribution business.
"There's no question that Amazon is a competitor in the marketplace," CVS Health CEO Larry Merlo tells analysts.
Walgreens' Pessina estimates that the combined company will have to sell roughly 500 stores in order to gain regulatory approval from the FTC.