Summary Box: Walgreen 1Q profit falls 4.5 percent

AP News
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Posted: Dec 21, 2011 10:31 AM
Summary Box: Walgreen 1Q profit falls 4.5 percent

NO DEAL: Walgreen Co. said Wednesday it held discussions with pharmacy benefits manager Express Scripts Inc. last week, but said the companies couldn't come to terms.

THE ARGUMENT: The companies differ on how much Express Scripts should pay Walgreen to fill prescriptions. A contract between the companies expires Dec. 31, and while Walgreen is holding talks with health plans and programs, it could lose billions in annual revenue.

THE QUARTER: Walgreen's first-quarter profit fell more than 4 percent on a combination of the Express Scripts dispute, a mild flu season, and higher costs.