but also in Walgreens and it opens up many other things,” Alex Gourlay, Walgreens Boots Alliance co-COO said at a conference recently. “This will be a good investment, not just in the U.S.A. To book an appointment at a CVS or Walgreens, new customers must provide contact information, giving the companies a treasure trove of customer data that they can potentially use to sell more products at drugstores, like ibuprofen or sports drinks, as well as healthcare services, an increasingly important focus for both companies. (Rite Aid on Wednesday said that because of a “historically soft cough, cold and flu season”, sales of related products fell 37% in the three months ended in late February.) In February, CVS forecast a profit from COVID tests and vaccines of $400 million to $500 million for 2021, even factoring in the lost business from a weaker cold and flu season as mask-wearing protects people from getting those illnesses. That translates into CVS pharmacy, Walgreens, Walmart, Rite Aid and other retailers giving about 150 million shots.Īnd with dispensing fees of roughly $40 per shot paid by the government to the retailers, almost all profit since the chains don’t buy the vaccines, they will collect a nice little bonanza.
Retailers will ultimately administer half of the shots, with various government sites doing the rest, Barclays said in a report earlier this month.
Considering the progress, President Biden on Thursday announced a new goal of administering 200 million doses during his first 100 days in office-double his original target. finally finds its stride in vaccinating its population, the government’s big partners for speeding up that rollout-drug store chains, big box stores, and even supermarkets-stand to win handsomely.Īs of March 24, one out of four Americans had already received one vaccine dose, and 2.5 million shots were given on average in the previous seven days.
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