• From Bloomberg:
"Walgreens Boots Alliance Inc. signed up another customer for a new unit that recruits participants for clinical trials, just as rival CVS Health Corp. exits the sector.
"The company inked a deal with Freenome Holdings Inc., a San Francisco-based biotech startup, for its study of blood-based tests for early cancer detection. Since starting the division a year ago, Walgreens has announced roughly half a dozen deals. The company declined to provide any specific financial results for the unit.
"While the decision by CVS to move on from clinical trials may suggest retail pharmacies face challenges in this space, Walgreens said it’s taking advantage of the departure … The move into clinical trials ties into the company’s broader vision of expanding its health-care offerings and moving deeper into patient care. Walgreens has been adding primary-care centers to US locations and partnering with health insurers. Last year, it acquired specialty and urgent care provider Summit Health-CityMD for $8.9 billion.
"CVS was among the first retail chains to move into this space back in 2021, but the company announced last month that it would phase out the unit with a complete exit by the end of next year. The business 'no longer aligned with our long-term strategic priorities,' a CVS spokesperson said."