Walgreens (NYSE: WAG) (Nasdaq: WAG) and the Cystic Fibrosis Foundation today announced they have completed a transaction giving Walgreens a significant ownership stake in Cystic Fibrosis Foundation Pharmacy LLC, the parent company of Cystic Fibrosis Services Inc.
The transaction gives Walgreens and the CF Foundation joint ownership of two businesses: CF Services, a specialty pharmacy for CF patients and their families; and Pharma Dynamics Inc., a provider of new product launch support and call center services for drug manufacturers. CF Services will continue to operate under its current name and remain based in the same location in Bethesda, Md. Pharma Dynamics Inc. was previously CF Services’ Corporate Accounts Division. Terms of the agreement were not disclosed.
As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion, Walgreens ( www.walgreens.com) vision is to become America’s first choice for health and daily living. Each day, Walgreens provides more than 6 million customers the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice in communities across America. Walgreens scope of pharmacy services includes retail, specialty, infusion, medical facility and mail service, along with respiratory services. These services improve health outcomes and lower costs for payers including employers, managed care organizations, health systems, pharmacy benefit managers and the public sector. The company operates 8057 drugstores in all 50 states, the District of Columbia and Puerto Rico. Take Care Health Systems is a Walgreens subsidiary that is the largest and most comprehensive manager of worksite health and wellness centers and in-store convenient care clinics, with more than 700 locations throughout the country.About Cystic Fibrosis Foundation Pharmacy Cystic Fibrosis Foundation Pharmacy is a holding company that includes two independent operating entities: Cystic Fibrosis Services and Pharma Dynamics. Established in 1988, Cystic Fibrosis Services is a full-service specialty pharmacy specializing in cystic fibrosis medications, patient advocacy and reimbursement support. For more information, go to https://www.cfservicespharmacy.com/. Pharma Dynamics, a new entity formerly referred to as Cystic Fibrosis Services' Corporate Accounts Division, provides new product launch support and call center services for drug manufacturers. About the Cystic Fibrosis Foundation The Cystic Fibrosis Foundation is the world's leader in the search for a cure for cystic fibrosis. The Foundation funds more cystic fibrosis research than any other organization, and nearly every CF drug available today was made possible because of Foundation support. Based in Bethesda, Md., the Foundation also supports and accredits a national care center network that has been recognized by the National Institutes of Health as a model of care for a chronic disease. The Cystic Fibrosis Foundation is a donor-supported nonprofit organization. For more information, go to www.cff.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV