According to a Wall Street Journal report, the companies are in early talks to combine, though sources reportedly stressed the uncertainty as to whether there would be a deal.
Gilead Sciences’ new HIV treatment Biktarvy has been approved by the Food and Drug Administration — but its novel component is also the subject of patent infringement litigation from GSK.
Rite Aid has successfully transferred 1,114 stores to Walgreens Boots Alliance, and has received cash proceeds of $2.424 billion, which the company continues to use to reduce debt.
The company on Thursday said that Kevin Hourican would be at the helm of CVS Pharmacy while the company looks internally and externally to find a successor for former president Helena Foulkes, who is the incoming CEO of Hudson’s Bay.T
As a result of the U.S. Tax Cuts and Jobs Act, the Woonsocket, R.I.-based company will be spending $425 million annually to improve employee wages and benefits, including plan to subsidize employee healthcare costs.
The Dublin, Ohio-based company’s earnings per share increased 226% to $3.33 following a quarter of growth in its medical business and a pharmaceutical distribution segment that exceeded expectations.
