Walgreens Completes Transaction to Gain Ownership Stake in Cystic Fibrosis
DEERFIELD, Ill. & BETHESDA, Md. -- December 07, 2012
Walgreens (NYSE: WAG) (Nasdaq: WAG) and the Cystic Fibrosis Foundation today
announced they have completed a transaction giving Walgreens a significant
ownership stake in Cystic Fibrosis Foundation Pharmacy LLC, the parent company
of Cystic Fibrosis Services Inc.
The transaction gives Walgreens and the CF Foundation joint ownership of two
businesses: CF Services, a specialty pharmacy for CF patients and their
families; and Pharma Dynamics Inc., a provider of new product launch support
and call center services for drug manufacturers. CF Services will continue to
operate under its current name and remain based in the same location in
Bethesda, Md. Pharma Dynamics Inc. was previously CF Services’ Corporate
Accounts Division. Terms of the agreement were not disclosed.
As the nation's largest drugstore chain with fiscal 2012 sales of $72 billion,
Walgreens (www.walgreens.com) vision is to become America’s first choice for
health and daily living. Each day, Walgreens provides more than 6 million
customers the most convenient, multichannel access to consumer goods and
services and trusted, cost-effective pharmacy, health and wellness services
and advice in communities across America. Walgreens scope of pharmacy services
includes retail, specialty, infusion, medical facility and mail service, along
with respiratory services. These services improve health outcomes and lower
costs for payers including employers, managed care organizations, health
systems, pharmacy benefit managers and the public sector. The company operates
8057 drugstores in all 50 states, the District of Columbia and Puerto Rico.
Take Care Health Systems is a Walgreens subsidiary that is the largest and
most comprehensive manager of worksite health and wellness centers and
in-store convenient care clinics, with more than 700 locations throughout the
About Cystic Fibrosis Foundation Pharmacy
Cystic Fibrosis Foundation Pharmacy is a holding company that includes two
independent operating entities: Cystic Fibrosis Services and Pharma Dynamics.
Established in 1988, Cystic Fibrosis Services is a full-service specialty
pharmacy specializing in cystic fibrosis medications, patient advocacy and
reimbursement support. For more information, go to
https://www.cfservicespharmacy.com/. Pharma Dynamics, a new entity formerly
referred to as Cystic Fibrosis Services' Corporate Accounts Division, provides
new product launch support and call center services for drug manufacturers.
About the Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation is the world's leader in the search for a cure
for cystic fibrosis. The Foundation funds more cystic fibrosis research than
any other organization, and nearly every CF drug available today was made
possible because of Foundation support. Based in Bethesda, Md., the Foundation
also supports and accredits a national care center network that has been
recognized by the National Institutes of Health as a model of care for a
chronic disease. The Cystic Fibrosis Foundation is a donor-supported nonprofit
organization. For more information, go to www.cff.org.
Photos/Multimedia Gallery Available:
Jim Graham, 847-315-2925
Cystic Fibrosis Foundation
Laurie Fink, 301-841-2602
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