Recently, at the US Conference on AIDS in Chicago, Walgreen Co. (WAG), the largest drugstore chain in the US declared over 500 of its pharmacies as HIV Centers of Excellence (COE) in areas highly affected by HIV. These regions were identified by the Centers for Disease Control and Prevention (CDC).
These pharmacies will offer guidance and support with their medication therapy to patients suffering from the fatal disease, provide refill reminders and also help identify financial support programs. In addition, they will also strive toward creating more awareness about services offered through the COEs.
Alongside, in response to HIV/AIDS in the US, Walgreen also extended its support to Greater Than AIDS, a national campaign developed by the Kaiser Family Foundation together with the Black AIDS Institute. As a part of this endeavor, Walgreen offered free testing in coordination with the National Association of People with AIDS (NAPWA), CDC, state and local health departments and AIDS service organizations in select US markets.
Currently, Walgreen is also working in sync with Greater Than AIDS to identify future testings and reach out to those in need. The company is also collaborating with AIDS United and national AIDS service organizations to help enhance the organization’s mission to end HIV/AIDS in the US and Puerto Rico.
Roughly 30 years ago, when the epidemic first took place in the US, Walgreen supported people suffering HIV/AIDS by offering health and wellness guidance. Presently, Walgreen is working hard toward establishing itself as a leading provider of pharmacy, health and wellness solutions. The benefits from these initiatives will be experienced over a period of time. Walgreen is also aggressively tackling this year’s flu season with its new flu shot program.
However, we are concerned based on the impact of the current high unemployment levels and lower discretionary spending. Moreover, the company faces intense competition from major players like CVS Caremark (CVS) and Rite Aid Corporation (RAD).
Walgreen currently retains a Zacks #3 Rank (short-term Hold rating), which also corresponds to our Neutral recommendation on the stock over the long term.
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