Walgreen (NYSE:WAG) Buys Drugstore.com

Walgreen (NYSE:WAG) has acquired the online retailer Drugstore.com for $450 million. Walgreen (NYSE:WAG) Buys Drugstore.com Walgreen (NYSE:WAG), the US pharmaceutical retailer, purchased the Drugstore.com, expanding its online prescription drugs market. The buyout is expected to create $450 million in annual revenue and it will provide an additional 60,000 new products to its online catalogue. The acquisition also allows its customers to browse Drugstore.com sites such as Beauty.com, Skinstore.com and Visiondirect.com. "Over the past two years, we've established the infrastructure from which to grow our multichannel products and services, and by combining Drugstore.com's capabilities we are well on our way to achieving our goal of becoming the most convenient multichannel retailer for health and daily living needs," said Walgreen (NYSE:WAG)'s President of E-Commerce Sona Chowla. Walgreen (NYSE:WAG) shares were at 39.64 at the end of the last day’s trading. There’s been a 1.2% change in the stock price over the past 3 months. Walgreen (NYSE:WAG) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 1.86 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 2.02 Zack’s Rank: 3 out of 6 in the industry
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