Part 3/9:
Pharmacy services have historically been the cornerstone of Walgreens' business model. However, changing consumer behavior poses a serious threat. As more individuals turn to online platforms such as Amazon Pharmacy for prescription fulfillment, Walgreens is losing market share in this critical area. Furthermore, Pharmacy Benefit Managers (PBMs) are increasing their influence over drug pricing, squeezing the profitability of traditional pharmacy operations. Tim Wentworth, Walgreens' CEO, acknowledged that the current pharmacy model is unsustainable and that adjustments must be made to adapt to the evolving market landscape.