Walgreens: A Century of Healthcare Innovations

Image: Walgreens

Market Valuation:  $32 Billion 
 
Ironbound Buy-Side Valuation:  $40 Billion
 
Ironbound Assessment:  Deerfield Illinois based Walgreens Boots Alliance, Inc., founded in 1901, is the largest retail pharmacy, health and daily living destination in the United States and Europe with over 13,000 locations across 9 countries.  Approximately 78% of the American population lives within 5 miles from a Walgreens or Duane Reade retail pharmacy location.  In 2022, the company filled 820 million prescriptions, and now has over 102 million myWalgreens rewards loyalty members.  Our upside valuation of $50 Billion is on the higher end to account for the Company’s transformational cost management program estimated to unlock an additional $3.5 Billion in annual cost savings after 2024.  We like Walgreens because of its meaningful holistic business purpose: to help people lead more joyful lives through better health.  In 2022, the company received numerous inclusivity awards that included, a score of 100 from the Human Rights Campaign’s Corporate Equality index, a bronze award on the Stonewall Top Global Employers Index for LGBTQ+ inclusions, and 100% on the Disability Index for disability inclusions.  The company is rolling out local clinical services at a lower cost to consumers inside pharmacy locations as a long-term healthcare value creation strategy.