Healthcare: Walgreens Shows its Hand, Scoops Up Rite Aid

Industry Focus

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4.6 • 854 Ratings

🗓️ 28 October 2015

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we're discussing Walgreens acquiring Rite Aid. Did this retail pharmacy giant play its cards right? Does an overlapping footprint mean the two retail pharmacies will step on each other’s toes? Tune in to find some answers.

Transcript

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0:00.0	Walgreens shows its hand. This is industry focus.
0:04.0	Hey everyone, welcome to industry focus, health Healthcare Edition. I'm your host
0:13.8	Christine Harjus and although Todd Campbell is not back to join me today I am
0:18.4	pleased to welcome health care analyst Michael Douglas to the show.
0:21.6	Thank you, Christine.
0:23.0	It is wonderful to be back.
0:25.0	Hopefully, maybe a few folks missed me.
0:26.5	Maybe.
0:27.5	Probably not many though.
0:28.5	I'm sure plenty have.
0:29.5	Well, I'm glad you're here.
0:31.5	We have a really fun topic today to talk about big news that came out recently that Walgreens is acquiring Rite Aid.
0:40.0	So this made quite a splash even when the Wall Street Journal initially reported but as of this morning
0:45.6	the official announcement is out there. This is a 17.2 billion dollar all-cast transaction
0:52.2	where Walgreens is paying $9 per share to acquire its fellow competitor
0:58.4	Rite Aid.
0:59.8	And now this is pretty big for the industry because this is a space totally dominated by three players.
1:04.7	You've got Rite Aid and Walgreens and then you've got your CVS.
1:08.3	And as it stands, this looks like it could bring the number two and number three players together to
1:13.8	surpass the number one player. Is that what you're seeing Michael?
1:17.0	Yeah, I mean this is this is definitely a a push for additional scale by Walgreen.
1:24.2	I think that's very clear.
	...

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