- Walgreens Boots Alliance Inc (NASDAQ:WBA) has launched its clinical trial business to redefine the patient experience and increase access and retention in sponsor-led drug development research.
- Walgreens will combine the flexible clinical trial model with its vast data on patient insights, partner-enabled health and technology capabilities, and in-person and virtual care options.
- The introduction of Walgreens' clinical trial offerings coincides with recent steps taken by the FDA to increase racial and ethnic diversity in clinical trials.
- The company notes that 20% of drugs have a variation in responses across ethnic groups, yet 75% of trial participants are white. In comparison, only 11% are Hispanic, and fewer than 10% are Black and Asian.
- "Best known for its chain of drugstores, Walgreens has been looking to expand beyond its core business and spent $5.5 billion last year to take majority stakes in two health care providers, VillageMD and CareCentrix," Reuters reported.
- "With the clinical trials business, the company plans to use its vast trove of data and new services to help cut costs for drugmakers and capture a share of the roughly $83 billion market," the report noted.
- Price Action: WBA shares are down 1.25% at $40.21 during the market session on the last check Thursday.
