Walgreens Boots Alliance, Inc. is an integrated healthcare, pharmacy and retail leader with a 170-year heritage. The company operates approximately 12,500 locations across the U.S., Europe and Latin America. It is also one of the world's largest purchasers of prescription drugs and many other health and well-being products. The company's core business model involves dispensing medicines, improving access to health services, providing health and beauty products, and offering convenience through digital platforms. Walgreens Boots Alliance is focused on coordinating with health plans and systems to engage patients in underserved communities and improve the quality of care. The company's competitive advantages include its size, scale, and expertise in the pharmacy and healthcare sectors. It has a presence in 8 countries.

• Employees: 312,000 (as of August 31, 2024)
• Geographic Footprint: 8 countries
• Number of locations/facilities: 12,712 (as of August 31, 2024)
• Revenue: $147.7 billion (FY2024)
• Market capitalization: $15.2 billion (as of February 29, 2024)
• Key Subsidiaries/Brands: Walgreens, Boots, Duane Reade, Benavides, No7, Soap & Glory, Free & Pure, NICE!, Liz Earle, Botanics, Sleek MakeUP and YourGoodSkin
• Year founded: 2014 (Walgreens Boots Alliance, Inc.)
• Headquarters location: Deerfield, Illinois

• CEO: Tim Wentworth
• CFO: Manmohan Mahajan
• Chief Operating Officer, International: Ornella Barra
• Executive Vice President and President, U.S. Healthcare: Mary Langowski
• Executive Vice President and Global Chief Legal Officer: Lanesha Minnix
• Executive Vice President and Global Chief Human Resources Officer: Elizabeth Burger
• Executive Vice President and Chief Information Officer: Neal Sample
• Executive Vice President and President, Retail and Chief Customer Officer: Tracey Brown
• Senior Vice President and Chief Pharmacy Officer: Rick Gates
• Senior Vice President and Chief Corporate Affairs Officer: Beth Leonard
• Executive Chairman of the Board: Stefano Pessina

Key leaders have extensive experience in healthcare, retail, and finance. Mr. Wentworth has served as CEO since October 2023. Mr. Mahajan has served as CFO since March 2024.

• Annual Revenue: $147.7 billion (FY2024)
• Net Loss: $8.6 billion (FY2024)
• Market Cap: $15.2 billion (as of February 29, 2024)
• Total Assets: $81.0 billion (as of August 31, 2024)
• Number of employees: 312,000 (as of August 31, 2024)
• Key Financial Highlights: The company experienced a net loss in FY2024 due to a non-cash impairment charge related to VillageMD goodwill and a non-cash charge related to a valuation allowance on certain deferred tax assets.

The company provides a wide range of products and services, including:

• Pharmacy: Dispensing prescription drugs and providing pharmacy-related services.
• Retail: Offering healthcare and retail products, including non-prescription drugs, health and wellness, beauty, personal care, and consumables.
• Healthcare Services: Providing primary, multi-specialty, and urgent care, as well as specialty pharmacy and home delivery services.

The company's product brands include No7, Soap & Glory, Free & Pure, NICE!, Liz Earle, Botanics, Sleek MakeUP and YourGoodSkin.

The company operates through three reportable segments:

• U.S. Retail Pharmacy: Includes retail drugstores, health and wellness services, specialty and home delivery pharmacy services, and its equity method investment in Cencora. This segment generated $115.8 billion in revenue in fiscal 2024.
• International: Consists of pharmacy-led health and beauty retail businesses outside the U.S., and the pharmaceutical wholesaling and distribution business in Germany. This segment generated $23.6 billion in revenue in fiscal 2024.
• U.S. Healthcare: A healthcare business that is powered by a nationally scaled, locally delivered healthcare platform, organically developed clinical programs and strategic collaboration with WBA's majority-owned businesses. This segment generated $8.3 billion in revenue in fiscal 2024.

The company's current strategic priorities include:

• Focusing on core retail and specialty pharmacy businesses.
• Leveraging core assets through capital-efficient businesses.
• Expanding relationships with business partners.
• Transforming omni-channel capabilities and offerings.
• Improving health outcomes for patients.
• Reducing costs and increasing operating efficiencies.
• Monetizing non-core assets.

The company is also focused on simplifying and focusing its U.S. Healthcare portfolio and is evaluating options for its investment in VillageMD.

The company operates in the highly competitive retail pharmacy, healthcare services and pharmaceutical wholesale industries. Key trends affecting the business include:

• Consolidation in the healthcare industry.
• Increasing reliance on third-party payors.
• Government regulation of pharmaceutical prices.
• Growing demand for convenient and accessible healthcare services.
• Expansion of insurance coverage for prescription drugs.

Major competitors include other chain and independent pharmacies, mail order prescription providers, grocery stores, mass merchants, and online retailers. The company is a market leader in the U.S. retail pharmacy market.

• Market Risks: Changes in economic conditions, consumer buying practices, and competitive pressures.
• Operational Risks: Disruptions in the global supply chain, reliance on third-party vendors, and dependence on a single wholesaler for pharmaceutical drugs.
• Financial Risks: Exposure to fluctuations in foreign currency exchange rates, significant outstanding debt, and dependence on funding from subsidiaries.
• Regulatory Risks: Changes in healthcare regulations, compliance with various laws, and potential legal proceedings.
• Strategic Risks: Failure to execute business strategies, integrate acquisitions, and realize benefits from strategic partnerships.