WALGREENS

CAMP HILL, Pa. — Rite Aid on Thursday reported revenues of $7.8 billion, a decrease of 4.9%. Net loss totaled $75.3 million, or $0.07 per diluted share, and adjusted net loss was $52.4 million, or $0.05 per diluted share.

The industry awoke Thursday morning to arguably the biggest story of the year — the news that Walgreens and Rite Aid had agreed to scrap their original merger agreement one more time, this time in favor of a much smaller, seemingly more manageable deal to purchase 2,186 Rite Aid stores for $5.18 billion in cash.

In the first several hours following the announcement of the deal, DSN identified five important takeaways from the blockbuster agreement.

DEERFIELD, Ill. — Walgreens Boots Alliance on Thursday generated fiscal 2017 third quarter net earnings of $1.2 billion, up 5.3%, for the period ended May 31. Sales in the third quarter were $30.1 billion, an increase of 2.1% from the year-ago quarter, and an increase of 5% on a constant currency basis.

The news that Walgreens is to scrap its $9.4 billion merger with Rite Aid is unsurprising. The glacial pace of the Federal Trade Commission investigation and increasing signals that the federal government would disallow the merger have forced a rethink.

In some ways, the process so far has been a colossal waste of resources and effort. Walgreens has to pay out a $325 million termination fee to Rite Aid, and all parties — including Fred's, which was due to acquire some Rite Aid stores — have invested time and money with very little to show for it.

DEERFIELD, Ill. — Walgreens and LabCorp on Wednesday announced a collaboration through which LabCorp will develop and operate patient service centers within select Walgreens stores. The centers, which will be co-branded “LabCorp at Walgreens,” will offer LabCorp patient services in a secure, comfortable environment for specimen collection, located near the pharmacy area inside the store.

DEERFIELD, Ill. — Michigan residents can now get naloxone without a prescription at more than 225 Walgreens locations in the state. With the Tuesday announcement, Walgreens has now made the opioid overdose reversal drug, which can be administered as an injection or a nasal spray, available in 45 states and the District of Columbia.

WASHINGTON — The Federal Trade Commission’s is set to hold a closed-door meeting on Thursday. The meeting comes in the lead-up to the Jul. 7 deadline by which the regulatory agency has to approve or file suit to block the Walgreens-Rite Aid merger.