Walgreens Launches Clinical Trial Business

Walgreens Boots Alliance Inc WBA has launched its clinical trial business to redefine the patient experience and increase access and retention in sponsor-led drug development research.
Walgreens will combine the flexible clinical trial model with its vast data on patient insights, partner-enabled health and technology capabilities, and in-person and virtual care options.
The introduction of Walgreens' clinical trial offerings coincides with recent steps taken by the FDA to increase racial and ethnic diversity in clinical trials.
The company notes that 20% of drugs have a variation in responses across ethnic groups, yet 75% of trial participants are white. In comparison, only 11% are Hispanic, and fewer than 10% are Black and Asian.
"Best known for its chain of drugstores, Walgreens has been looking to expand beyond its core business and spent $5.5 billion last year to take majority stakes in two health care providers, VillageMD and CareCentrix," Reuters reported.
"With the clinical trials business, the company plans to use its vast trove of data and new services to help cut costs for drugmakers and capture a share of the roughly $83 billion market," the report noted.
Price Action: WBA shares are down 1.25% at $40.21 during the market session on the last check Thursday.