Bruised From Drug Pricing Wars And Under Pressure From Potential Rivals, CVS And Walgreens Seek Ways To Reverse Sagging Fortunes
The pharmacy chains are taking steps to become go-to places for people with chronic illnesses, but previous attempts to remake the drugstore concept with in-store medical services have had mixed results. CVS, with the threat of Amazon looming, is also looking to expand its same-day prescription deliveries.
The Wall Street Journal:
CVS, Walgreens Look To The Chronically Ill For A Pharmacy Cure
America’s two biggest pharmacy chains are attempting to reverse their sagging fortunes by becoming go-to treatment centers for people with chronic illnesses. CVS Health Corp. and Walgreens Boots Alliance Inc. are remodeling hundreds of stores into medical-service centers targeted at customers with conditions like diabetes, heart disease and hypertension. The idea is to make customers just as likely to stop in for medicine, consultations and lab tests as for lipstick or a candy bar. The need is urgent. Both chains are under tremendous pressure to find new ways to counter slowing revenue from prescription drugs, which drive the bulk of their sales. (Al-Muslim and Terlep, 4/4)
The Washington Post:
CVS Spreads Same-Day Prescription Deliveries To 36 States
CVS Health is expanding same-day prescription deliveries nationwide in the latest push by drugstores to keep customers who don’t want to wait and are doing more shopping online. The drugstore chain says it can deliver medications and other products within a few hours to homes or offices from 6,000 locations. The company started this service, which comes with a fee, in late 2017 in New York and expanded it to several cities last year. Rival Walgreens Boots Alliance Inc. also offers same-day deliveries in major cities and plans to expand this year. It has a partnership with FedEx Corp. to provide next-day deliveries as well. (Murphy, 4/4)