ATLANTA, GA, September 24, 2013 /24-7PressRelease/
-- Sonya Woolridge Sengson
is a pharmaceutical professional who remains on top of industry developments that may impact her work or her clients. For this reason, she is commenting on a new article
from The Chicago Tribune that details pharmacy giant Walgreen Co.'s latest acquisition. Walgreen Co. announced recently that it has acquired Kerr Drug, a privately held North Carolina pharmacy chain, for an undisclosed sum.
Last year, Kerr's drugstores and specialty pharmacies boasted sales of about $381M. Walgreen, which is based in Deerfield, Illinois, is currently the country's largest drugstore chain. Last year it had sales of $72B. Representatives at Walgreen explain that the deal will allow the chain to put new wellness centers throughout the state of North Carolina, where the health and pharmacy market is continually growing. Currently, Walgreen has 8,117 drugstores in all 50 states, encompassing the District of Columbia and Puerto Rico as well. This number trumps other major brands, including CVS Caremark Corp., which has more than 7,500, and Rite Aid Corp. with 4,600.
"This development is an exciting one for the industry, and especially the customers. Walgreen drugstores are well regarded, and wellness centers in the state of North Carolina will continue to allow individuals and families to focus on their health. In challenging economic times, it is encouraging to know that these kinds of developments are taking place," states Sonya Woolridge Sengson.
As part of the deal, Walgreen will purchase 76 drugstores from the North Carolina chain, including Kerr's specialty pharmacy business and a distribution center. However, Kerr will continue to maintain its long-term care pharmacy business, even after the acquisition is complete. Officials have said that Kerr Drug's retail stores will continue to operate under their current brand for the near future.
This is part of a significant period of growth for Walgreen. The company announced last year that it would soon buy stake in European beauty retailer Alliance Boots, which is currently the largest drugstore chain in the United Kingdom.
The brand also gets the option to purchase the chain down the line. In addition to this transaction, Walgreen also recently announced a decade-long agreement with pharmaceutical wholesaler AmerisourceBergen Corp., which gives the brand the right to purchase up to seven percent of that company's shares. They also purchased several regional chains in Illinois a short time ago.
"These various transactions and acquisitions will continue to shape and change the landscape of the pharmaceutical industry, and should be of interest to pharmacists, medical professionals, and patients alike," says Sonya Woolridge Sengson.
Sonya Woolridge Sengson
is a pharmacist who has also worked in pharmaceutical sales, marketing, consultation, and distribution. She is an active philanthropist, as well as an athlete.