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London Meeting Hears Walgreens, Boots Growth Plan

Walgreens outlined its strategic growth plans and long-term goals at its 2013 Analyst Meeting today in London. Key growth drivers, said president and CEO Greg Wasson, include initiatives that will enhance the company’s position as a community resource for healthy living.

“We are focused on creating a complete Well Experience for our customers across all of our touch points, transforming the role community pharmacy plays in health care and establishing an unprecedented and efficient global platform through our strategic partnership with Alliance Boots. As our two iconic brands come together, we will have a platform that will be very difficult, if not impossible, to replicate.”

Wasson outlined Walgreens fiscal year 2016 financial goals, made assuming the exercise of the company’s option to proceed to a full combination with Alliance Boots. Together, the companies aim to have sales of $130 billion or more, adjusted operating income between $9 billion and $9.5 billion, or $8.5 billion to $9 billion on a GAAP basis; $1 billion in combined synergies and operating cash flow of $8 billion or more.

“This combination accelerates our core strategies, creates an unmatched global supply chain and provides a platform for global expansion beyond the U.S. and Europe into new markets around the world,” said Wasson.

Walgreens outlined how it is creating a Well Experience for customers through four strategies: customer value, innovative products and services, systematic localized offerings and the most relevant networks and formats.