Walgreens reported Tuesday that profit for its fiscal fourth quarter surged 69%, in part due to gains from the $525 million sale of its pharmacy benefits management business Walgreens Health Initiatives during the quarter.
Walgreens on Wednesday sold its pharmacy benefit management business, Walgreens Health Initiatives, to Catalyst Health Solutions in a cash transaction for $525 million, subject to certain adjustments.
Walgreens on Friday announced that Hal Rosenbluth will retire as president of its health-and-wellness division in April, but will continue with the company as a senior consultant to the CEO for healthcare services.