Walgreens Partners With Prime Therapeutics For Pharmacy Network Agreement, Mail-service Business

Walgreens Boots Alliance Inc. announced Monday that it has partnered with Prime Therapeutics, a pharmacy benefit manager owned by 14 Blue Cross and Blue Shield health plans, on a retail pharmacy network agreement and mail-service business. The alliance will bring Prime's 22 million members preferred access to the Walgreens pharmacy network, including chances to save money when prescriptions are filled and an integration of pharmacy and health information. Walgreens will become Prime's national preferred pharmacy network starting Jan. 1. The allied services will have its own board of directors and executive team, to be announced later this year. Walgreens shares are up 1.4% early Monday but are down 8% for the past year. The S&P 500 Index is up 9.5% for the last 12 months.