Walgreens Experiences Stronger Revenue as Covid-19 Vaccine Rollout Ramps Up

Walgreens Boots Alliance Inc. says cash made out of administering Covid-19 vaccines ought to start to offset pandemic-related losses as extra individuals get pictures and the U.S. authorities pays a better reimbursement price.

The corporate mentioned Wednesday it has administered greater than eight million vaccines up to now, together with 4 million in March. Executives now anticipate the corporate to manage 26 million to 34 million pictures throughout its fiscal 12 months, which ends Aug. 31. The upper quantity partly led the corporate to carry its revenue forecast.

Covid thus far has harm Walgreens greater than it has helped, the corporate mentioned.

Retailer gross sales are down amid pandemic-related lockdowns, prescription volumes dropped as individuals postpone medical care, and gross sales of cold-and-flu merchandise tanked as Covid precautions prevented many individuals from getting sick from different bugs. Meantime, the corporate is spending extra to maintain employees and prospects protected and shops stocked.

The U.S. Facilities for Medicare and Medicaid Providers introduced earlier this month that it might improve the cost price for vaccines to $40 for every dose, up from $28 for a single dose and $45 for 2 doses.

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