Walgreens Boots Alliance Inc on Thursday posted a better-than-expected quarterly...
) on Thursday posted a better-than-expected quarterly profit as the drugstore chain benefited from a rise in branded drug prices and an increase in the number of prescriptions it fills in the United States.
Shares of the Deerfield, Illinois-based company, which also maintained its forecast for full-year profit, rose nearly 5% to $54.84 in morning trading. Walgreens, which replaced General Electric Co GE.N on the blue-chip Dow Jones Industrial Average Indexlast year, is the worst performing stock on the index, with year-to-date losses of 23.4% through Wednesday close.
The company said it has been able to cushion reimbursement pressures from insurers in recent years through benefits it received in the process of procuring generic drugs.
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