Prescription Flap Hurts Walgreen in Q1

DEERFIELD, Ill. — Net earnings at Walgreen Co. fell by 25% to $413 million in the fiscal first quarter as a result of declines in prescription volume and front-end sales as well as shifts to generic drugs.

Walgreen said prescription sales decreased by 7.2% compared with the first quarter last year, but rebounded from an 8% drop in the fourth quarter, indicating some recovery as a result of a settlement reached over the summer with pharmacy benefits manager E

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