CVS vs. Walgreens | Clinic Bait | 2

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 18 October 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s the late 1990s and CVS and Walgreens are battling for control of the nation’s best street corners and there’s a huge prize at stake.

Tens of millions of boomers are about to turn grey and thanks to new drugs and prescription insurance they will soon be spending billions at the nation’s pharmacy counters.

But CVS isn’t just eyeing the prescription dollars. It's formulating a plan to shoot past Walgreens by turning its drugstores into healthcare destinations.

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Transcript

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0:00.0	On a street corner in the coastal town of Rai New York, Daniel George counts the passing
0:14.5	cars and trucks in his head.
0:16.9	It's 1988 and George the new CEO of Walgreens.
0:20.6	He's a tall lean man in his late 50s and the first person outside of the Walgreens family
0:25.3	to run the company.
0:26.8	And the pressure is on because CBS is bulking up fast.
0:31.6	The Realtor's showing joint possible sites for new Walgreens stores moves to seal the
0:35.9	deal.
0:36.9	It's a prime spot.
0:38.9	Your people said you wanted to be in on the busiest corners of the city.
0:42.4	I'd say this fits.
0:44.4	George says nothing.
0:46.1	But it does look ideal.
0:48.6	Their steady traffic can enough space for a 15,000 square foot Walgreens with parking
0:53.6	and a drive-through window.
0:55.4	The Realtor tries again.
0:57.2	It's good, yeah.
0:59.3	Jorrent reaches into his coat and pulls out a stopwatch.
1:02.7	We'll see.
1:04.2	Jorrent looks up at the stoplight.
1:06.0	His thumb hovers over the stopwatch's start button.
1:09.5	The light turns red.
	...

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