Walgreens (NYSE: WAG) (Nasdaq: WAG) and the Cystic Fibrosis Foundation announced today they are forming an alliance that will give Walgreens a significant ownership stake in the parent company of Cystic Fibrosis Services, Inc., a specialty pharmacy that provides medications and treatment support for the cystic fibrosis community. CF Services will continue to operate under its current name and remain based in the same location in Bethesda, Md. Terms of the agreement were not disclosed.
“By working with a pharmacy chain the size and stature of Walgreens, we will be better able to offer people with CF greater access to high-quality, customer-friendly pharmacy services,” said Robert J. Beall, Ph.D., president and chief executive officer of the Cystic Fibrosis Foundation. “Together, CF Services and Walgreens can bring pharmacy services to a higher level for the CF community.”
Walgreens has more than 7,900 stores nationwide, including about 180 hospital outpatient pharmacies, which will be able to offer enhanced services to CF Services customers. These services include a number of unique programs that can help CF patients better manage their treatment regimen so they can have better health outcomes.
“Walgreens has a long-standing relationship with the CF community, and we understand the unique needs and challenges that CF patients and their families face,” said Mike Ellis, vice president of Walgreens specialty pharmacy and infusion. “By working with the CF Foundation, we are both committed to CF patients continuing to have access to the medications and services they need to stay healthy and getting the greatest benefit from their relationship with their pharmacist.”
While the alliance will expand the services and resources available to customers of CF Services, the two organizations will work to preserve and enhance the consistent and reliable service that CF Services pharmacy customers count on. For example, customers of CF Services will continue to use the same toll-free number to order medications with the same knowledgeable and caring professionals there to handle orders and answer questions. In addition, patient-friendly services, such as free shipping and monthly invoices for out-of-pocket payments, will continue.
Cystic fibrosis is a life-threatening genetic disease that affects about 30,000 children and adults in the United States, and about 70,000 people worldwide. Cystic fibrosis causes debilitating lung infections and premature death. The predicted median age of survival for a person with CF is in the late 30s. Ten million people in the U.S. – or one in 30 – carry the defective CF gene.
As the nation's largest drugstore chain with fiscal 2012 sales of $71.6 billion, Walgreens’ (www.walgreens.com) vision is to become America’s first choice for health and daily living. Each day, Walgreens provides nearly 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 7,929 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 country.
About CF Services
Established in 1988, CF Services is a full-service specialty pharmacy specializing in CF medications, patient advocacy and reimbursement support. For more information, go to https://www.cfservicespharmacy.com/.
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.
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Last updated on: 02/10/2012
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