Retail pharmacy giant Walgreens Boots Alliance Inc (NASDAQ:WBA) is bolstering its specialty pharmacy services, aiming to enhance patient outcomes and value for stakeholders.

The company unveiled Walgreens Specialty Pharmacy, an encompassing initiative to cater to patients with complex, chronic conditions while fostering profitable partnerships.

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Walgreens Specialty Pharmacy introduces a comprehensive suite of services, including gene and cell therapy solutions, marking a significant advancement in the company's healthcare offerings.

Anchored by an 18,000-square-foot Innovation Center in Pittsburgh, Pennsylvania, the initiative focuses on managing therapy complexities and ensuring patient success.

Under the expanded business, Walgreens will operate four central specialty pharmacies, each with national accreditations and expertise in dispensing intricate medications.

Additionally, the company's expansive network comprises nearly 300 community-based specialty pharmacies, strategically positioned for swift medication access and tailored patient services.

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With over 1,500 specialty-trained pharmacists and 5,000 patient advocacy support members, Walgreens Specialty Pharmacy is primed to address the burgeoning demand for specialized care.

Specialty medications constitute a significant portion of the U.S. prescription drug market, driving the need for tailored solutions.

Walgreens Specialty Pharmacy aims to meet this demand by streamlining care coordination across stakeholders, thereby enhancing patient access and driving cost efficiencies.

Effective August 1, 2024, AllianceRx Walgreens Pharmacy will transition to Walgreens Specialty Pharmacy, offering enhanced resources and clinical support to patients.

Walgreens stock lost over 48% in the last 12 months. Investors can gain exposure to the stock via Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) and Invesco Dow Jones Industrial Average Dividend ETF (NYSE:DJD).

Price Action: WBA shares are trading higher by 0.79% at $17.94 in premarket at last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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