Walgreens’ Pessina: Consolidation is more efficient

The CEO of Walgreens Boots Alliance, Stefano Pessina, believes consolidation is the future of the pharmacy channel, according to a report published by Forbes.

In a speech delivered at the Forbes Healthcare Summit in New York last week, Pessina claimed, “To be honest I believe consolidation is a good thing for this market… If there are many services under the same head its easier to coordinate the dynamics and lead in an efficient way.”

Pessina’s views are unsurprising, given that Walgreens Boots Alliance is poised to complete on its Rite Aid merger in the New Year, and his curriculum vitae reads like a who’s who of prominent acquisitions, culminating in the current Walgreens Boots Alliance, the world’s largest drugstore operator.

The Rite Aid deal, says Pessina, will create the US’ first truly national drugstore chain. “The most important effect is that we would be truly national today. There is not a truly national pharmacy network in the US, bringing more services to the customer.”