Walgreens to sell its pharmacy benefit management unit for $525 million

Walgreen Co. is selling its pharmacy benefit management business, as the Deerfield-based drugstore giant pushes to get consumers to the pharmacy counter and away from mail order.

The nation's largest drugstore chain said Wednesday that it will sell Walgreens Health Initiatives for $525 million in cash to Catalyst Health Solutions Inc., of Rockville, Md. The deal is expected to close in June.

Walgreens and other retailers are working hard to increase foot traffic into their stores by adding medical services such as vaccinations and primary care from nurse practitioners. But owning a pharmacy benefit manager is contrary to that strategy.

via chicagotribune.com