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Market Update : 
Walgreens Q3 Earnings Call Transcript
Author: 123jump.com Staff
123jump.com
Last Update: 9:55 AM ET June 25 2009


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Small single digits?

Gregory D. Wasson

Yeah.

Edward Kelly - Credit Suisse

Okay. And then Greg, last question for you, I was just kind of hoping that maybe you could go back to that question on the PBN business and maybe just help us understand strategically how you are thinking about that business longer-term. Do you need it to connect the dots between specialty, the stores, the clinics? It sounds like you want to grow that business. Is that right? And it sounds like whether it’s via acquisition or organically, you may consider that? And that to me seems like a bit of a change in rhetoric.

Gregory D. Wasson

No, Ed, I’m glad you came back to that. No, I don’t have a change in philosophy there at all. We want to be a convenient provider of all pharmacy and health wellness services to all payers and I think there’s an opportunity to work even closer with the payer community, whether it’s PBNs and/or managed care. And as we link our provider services together, I think that’s where the real value is and I talk about that we are growing, we’re building our specialty platform. Now we’ve got the number one infusion platform across the country. We’re growing our clinics, as you know. We’re growing our employer on-sights across the country. As we link those provider services, there’s where I think we can provide huge value to a payer and I don’t believe we necessarily need to have a PBN to be able to do that. I’d much rather would want to work with all payers to be able to bring those services to them versus link up with one or two in particular.

Wade D. Miquelon

And one thing we like to say is, as you know, we had a PBN and whatever you call it, it’s the capabilities that underlie it that we have and we continue to want to be very good at. So whether it’ll be formularies, whether it is to claim support, it’s really the capabilities that we are trying to drive versus the spread game or something else. That’s where we are really focused.

Gregory D. Wasson

And Ed, we’re a major specialty provider for several managed care organizations across the country today. We provide mail service for several organizations across the country. You don’t necessarily need to have that PBN to be able to do that and I think, as I said, the value that we think we can provide to help control medical costs is to integrate and link our provider services so we really provide value.

Edward Kelly - Credit Suisse

Okay. Thank you.

Gregory D. Wasson

Thank you.

Rick J. Hans

Hey folks that was our final question. Thank you for joining us today. Remember we’ll announce June sales on July 2nd. Also, because Yom Kippur falls on Monday, September 28th, we’re accommodating those who are observing the holiday by moving our next quarterly financial announcement to Tuesday, September 29th. That’s when we’ll announce fiscal 2009 fourth quarter and year-end results. Until then, thank you for listening.

Operator

And that does conclude today’s conference, ladies and gentlemen. We appreciate everyone’s participation today.


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