According to Hoover database, it is estimated that between 2015 and 2019, US personal consumption expenditure for drug preparations and sundries is expected to grow at a rate of four percent (Hoovers 2015). According to Lucintel, the sales in global retail pharmacy are expected to reach $1.4 trillion by 2017. The global pharmaceutical market is projected to increase at a compound annual growth rate (CAGR) of 4 to 7% to 2018 and reach $1.3 trillion, according to estimates from IMS. From this data, the US will account for more than 60% of sales and 80% of sales growth to 2018. This data is based on ex-manufacturer price levels and do not include rebates and discounts (Van Arnum, 2015).
Since its inception in 1901, Walgreen’s has become a force to be reckon with within the industry. Today, Walgreens is the second largest pharmacy retail chain in the US, with respect to market cap and sales behind their biggest competitor, CVS , who holds the first position. However, Walgreens is the largest drugstore operator in terms of locations in operation in the US (Bells, 2015).
Walgreens position in the market is its greatest strength. Walgreens has managed to attract and retain a …show more content…
The company operates under both the Walgreens and Duane Reade banner in the US market and as Boot in the United Kingdom market and elsewhere. Currently, Walgreen has nearly 13,000 stores in twenty five countries. In December 2014, the company acquired European drugstore chain Alliance Boots for over 15 million in cash and stock to form Walgreens Boots Alliance, for which it is a subsidiary (Christian, 2015). This merger allows Walgreens to enter into the global market and has since strengthened Walgreen’s position within the industry. Prior to the acquisition, the company only operated in the US and Puerto Rico. Today, they are in Europe, the Middle East and Asia (Bells,
Since its inception in 1901, Walgreen’s has become a force to be reckon with within the industry. Today, Walgreens is the second largest pharmacy retail chain in the US, with respect to market cap and sales behind their biggest competitor, CVS , who holds the first position. However, Walgreens is the largest drugstore operator in terms of locations in operation in the US (Bells, 2015).
Walgreens position in the market is its greatest strength. Walgreens has managed to attract and retain a …show more content…
The company operates under both the Walgreens and Duane Reade banner in the US market and as Boot in the United Kingdom market and elsewhere. Currently, Walgreen has nearly 13,000 stores in twenty five countries. In December 2014, the company acquired European drugstore chain Alliance Boots for over 15 million in cash and stock to form Walgreens Boots Alliance, for which it is a subsidiary (Christian, 2015). This merger allows Walgreens to enter into the global market and has since strengthened Walgreen’s position within the industry. Prior to the acquisition, the company only operated in the US and Puerto Rico. Today, they are in Europe, the Middle East and Asia (Bells,