Walgreens' quarterly results topped Wall Street's expectations, even as profit declined from a year earlier.
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Operating income fell to nearly $200 million from more than $1.2 billion a year earlier, reflecting a $306 million pre-tax charge for opioid litigation claims, higher investments in pharmacy wages and costs associated with its $3.5 billion investment in the acquisition of Summit Health. "With the closing of VillageMD's acquisition of Summit Health, WBA is now one of the largest players in primary care," Brewer said in the company's earnings release. "WBA exited a solid second quarter with Acceleration in February, adding to confidence in driving strong growth in the second half of the year."
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