Walgreens Boots Alliance Inc (WBA)

[big-yank]

Further CVS update... strong guidance for 2013, modest growth for retail, 11-14% growth for PBM. Generic impact anticipated to negatively impact pharmacy revenue by 1.1% but boost margins for the year. Conflict with CMS (see link I posted yesterday) negatively affecting Medicare Part D business.

Lots of interesting detail in FY12 slideshow put on CVS website concurrent with C/C, especially the breakout on Minute Clinics whose revenue rose 38% in Q4. 41 new clinics opened in 2012, 150 additional opening in FY13. Would be appropriate to see this type of detail from Walgreens.

In Q&A, UBS analyst specificlly asked about 2013 impact of retaining Walgreens/ESRX clients which Merlo affirmed was expected to remain 60% without additional marketing or promotional cost.

CVS market share in retail pharma rose for the year measured by Rx count. They also purchased a 44 store retail pharmacy chain in Brazil which I must have missed the PR on.

$5 billion spent on divies and share buybacks in 2012, a similar amount planned for 2013.

I may be a buyer, here. Liked what I heard.