Max Nisen, Columnist

Walgreens's Deal Aversion Can't Last

Its incremental approach is cheaper than a CVS-Aetna-style acquisition, but less rewarding.

January 4, 2018 at 7:19 PM UTC

Max Nisen is a healthcare analyst at Bloomberg Intelligence. He previously wrote for Bloomberg Opinion, Quartz and Business Insider.

1515093901_GettyImages-96794629 — Photographer: Joe Raedle/Getty Images

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CVS Health Corp. wasn't frequently mentioned on Walgreens Boots Alliance Inc.'s first quarter earnings call Thursday.

But CVS's $69 billion deal for insurer Aetna Inc. loomed large as Walgreens reported mixed results -- it beat analyst revenue estimates, but profit fell 22 percent from a year earlier due largely to an impairment charge. Shares fell as much as 6 percent percent Thursday morning.