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Walgreens Boots Alliance, the American owner of Boots UK, could risk losing billions after a private equity firm interested in buying its UK high street pharmacy chain valued the retailer at a steep discount, The Telegraph reported on Monday (April 11). "Buyout funds CVC and Bain indicated that they were willing to pay just £4bn for the business," the newspaper said, adding that "the consortium bowed out of the running" in March. The US retail giant Walgreens, which acquired Boots in 2014 for £9bn, has put a £7bn price tag on the UK pharmacy retail chain after selling its wholesale arm, Alliance Healthcare, last year. Citing city sources, the newspaper said the low valuation of the pharmacy multiple was "significant" because CVC's UK operations were led by Dominic Murphy, a Walgreens board member involved with Boots for 15 years. "He (Murphy) knows where the bodies are buried," the newspaper quoted one City source as stating. A spokesperson for Boots confirmed that CVC and Bain never lodged a formal offer for the company.

The parent company of Boots, Britain's largest pharmacy-led health and beauty chain, is reportedly considering putting its UK pharmacies up for sale next year for an estimated £10 billion. Walgreen Boots Alliance (WBA), the US health group that owns a stake in Boots UK since 2012, is lining up Goldman Sachs to explore a potential sale next year, as reported by Sky News. When contacted by Pharmacy Business, WBA said that it would not comment on "market speculation", noting that "Boots is an important part of the Group." The company, however, acknowledged that "it is accurate that WBA announced a renewed set of priorities and strategic direction for the Group in October, which includes a more pointed focus on North America and on healthcare."

Walgreens Boots Alliance on Tuesday (June 28) scrapped the plan to sell its UK high street pharmacy chain saying no third party was able to make an adequate offer due to the turmoil in global financial markets. Walgreens' move to call off the sale comes as private equity bidders Apollo Global and TDR faced headwinds in raising financing for the deal, as banks were wary of underwriting large chunks of the financing due to tough market conditions. Boots was initially valued at as much as £8bn with the auction process being led by Goldman Sachs. Global economic uncertainty and rising inflation have triggered a spike in interest rates as central banks have rushed to take action in the most widespread tightening of monetary policy for more than two decades, making deal financing costlier and harder to access. Walgreens had put its Boots UK business up for sale after announcing a strategic review in January as the second-largest US pharmacy chain renewed its focus on domestic healthcare. The company said the decision to retain Boots and No7 Beauty Company was also underpinned by their ongoing strong performance.

Boots witnessed a 'record-breaking' performance for beauty driving retail sales with a growth of 16 per cent in the three months to 28 February 2023. The beauty category delivered a record January, and premium beauty saw its biggest ever sales week in December. Skincare reported three consecutive weeks of record sales in December driven by the 'expert skincare' category in which brands including No7, La Roche-Posay, CeraVe and Eucerin proved popular. Boots beauty transformation strategy continued with 19 new beauty halls opened in Q2 and the 170th store to receive a beauty makeover opening at Westfield White City post-period end. Boots now stocks over 500 big name and cult beauty brands and exclusively sells the UK's leading skincare brand, No7. The business reported its eighth consecutive quarter of market share growth with gains across all categories, led by beauty - the stand-out performer of the quarter. Footfall, basket size and the number of Advantage Card customers all increased, as more people chose to shop at Boots. The Christmas period was particularly strong with retail sales in the five weeks to 31 December up 17.4% and outperforming the market. Boots further expanded its value offering in the quarter, announcing its biggest ever savings as part of its continued focus on the affordability of life's essentials. This included the addition of 60 new products to the Boots Everyday label as well as the extension of its Price Advantage scheme, which has to date resulted in £30 million of customer savings and now includes discounts on over 800 products every month.

Usdaw, one of the major trade unions in the UK, has sought assurances for its members working in Boots, following reports that the parent company of the iconic health and beauty retailer and pharmacy chain is considering putting the business on sale next year. Walgreen Boots Alliance (WBA), the US health group that owns a stake in Boots UK since 2012, is reportedly lining up Goldman Sachs to explore the sale of business with potential valuation of £10 billion. Currently, the process is thought to be solely exploratory and may not necessarily convert into the sale of the 172-year-old firm. Usdaw national officer, Daniel Adams, said: "We note that the company declined to comment on speculation, but acknowledged that the group's strategic direction 'includes a more pointed focus on North America and on healthcare'.

Boots registered a twelfth consecutive quarter of retail market share growth, with a reported retail sales increase of 5.9 per cent for the three months ending on 29 February 2024. This impressive growth comes on top of a 16 per cent increase recorded during the same period in the previous year, the UK's leading health and beauty retailer revealed. Strong growth was observed across digital platforms, namely Boots.com and the Boots app, with a 16.8 per cent surge in digital sales, particularly driven by "strong sales of beauty and personal care products." The growth of in-store sales remained consistent, registering a 4.5 per cent increase, with flagship, shopping center, and travel stores demonstrating particularly strong performance.

Despite significant sales growth in the quarterly results, high street chemist Boots is moving forward with its plan to close 300 stores in the UK. The move, aimed at improving profit margins amid rising costs and competition, will reduce the chain's portfolio from around 2,200 to just 1,900. Last month, the U.S.-based Walgreens Boots Alliance, the parent company of Boots, announced upcoming store closures within the next year. However, the company assured that there will be no job losses as all employees will be given the opportunity to be redeployed to nearby shops. The following sites are confirmed for closure on the specified dates: Heathside Rd, Woking (end of July) UEA campus (end of July) Hamlet Ct Rd, Westcliff-on-Sea (August 1) Windhill Road, Wakefield (October 6) Upper Warrengate, Wakefield (October 7) Glastonbury (October 13) Guildford Road, Woking (end of October) Boots stores at Salford Shopping Centre in Greater Manchester, Church Street in Malvern, The Port Arcades Shopping Centre in Ellesmere, and King William Street in London have already closed since spring.

Walgreens Boots Alliance, Boots UK's parent company, has appointed Tim Wentforth as its new CEO, effective on 23 October. He joined WBA at a pivotal time when the company plans to downsize the business while driving execution and creating greater value for employees, patients, customers and shareholders. Wentforth replaced Rosalind Brewer, who stepped down on 1 September, after two years at the helm. He joined from Evernorth, Cigna's health services organisation based in Connecticut, where he served as its founding CEO. Prior to Cigna, he also held top roles in companies including specialty pharmacy company Accredo and pharmacy benefit manager Express Scripts.

Viveca Biomed has launched an innovative and clinically-proven bladder support device that offers women immediate relief from stress urinary incontinence (SUI) and provides community pharmacy contractors with a way to build a new consumer base, customer loyalty and sales margins. The product, named 'Contrelle Activgard', has already recorded millions of sales in Scandinavia over a decade. The company behind the UK launch is female healthcare business Viveca Biomed, founded in 2019 by Andrew Tasker who has spent 30+ years in senior roles within the OTC and pharma industry. Contrelle is manufactured, packed and distributed in the UK at Viveca Biomed's factory near Newcastle, with no outsourcing, and thus offering the best possible continuity of supply. Ahead of the launch, the company commissioned a large consumer lifestyle survey with 500 women over 40 years of age who experience bladder leaks, to reveal the extent of its detrimental impact. Contrelle Activgard is a safe, discrete, easy-to-use and highly effective, single-use vaginal device, designed to immediately prevent SUI rather than just deal with the leakage.

WBA, Boots parent company revealed the results for its fourth quarter of the financial year, showing three months to August 2023. The reports published on 12 October show the loss of at least $1bn following a net loss of $3.1bn on an annual basis. This marks a decrease compared to a profit of $4.3bn in the previous financial year. The loss was attributed in part to a $5.5 billion after-tax charge related to opioid claims and litigation during the period, as well as the comparison against a $2.5 billion after-tax gain from the company's investments in Village MD and Shields Health Solutions in the same period last year. Ginger Graham, WBA's Interim Chief Executive spoke about the company's performance and its dedication to their customers and patients.

The renowned health and beauty chain has announced impressive annual sales and profit figures, following the expansion of its British high street estate. According to a report by The Times, Superdrug's pre-tax profits jumped by 43.6 per cent to £111.6 million in the year ending December 2023 compared to the previous year. The company's revenue also experienced significant growth, rising by 11.8 per cent to reach £1.52 billion, marking its third consecutive year of market share growth. Key factors driving this growth include the opening of 14 new stores across strategic locations such as The Trafford Centre in Manchester and Brent Cross shopping centre in north London, and the refitting of 45 stores last year. Additionally, the continued expansion of its cheaper, own-label products, along with exclusive launches from brands like Bioré SPF, Nyx X Barbie, and Billie Eilish fragrances, significantly contributed to a 4.2 per cent year-on-year increase in Superdrug's sales volume.

Superdrug has reported more than 400 per cent spike in sale of the chickenpox vaccines in the UK. To protect children against the disease during chickenpox season, nearly nine out of 10 patients (87 per cent) have taken their wards under the age of five for vaccination in the last eight weeks. Chickenpox can be a seasonal disease with children usually catching it in the winter and spring, with UK peaks often between March and May. The last two years of spending time in and out of various lockdowns have meant less interaction between people, and so less transmission across the general population. Caris Newson, head of healthcare services at Superdrug, said: "One of the knock-on effects of Covid is that people have a greater awareness and understanding of the benefits that vaccines can offer. "We launched the chickenpox vaccination service five years ago in 2017 and it's now that we're beginning to see greater interest in how it can support family health. In fact, our fully qualified nurses have told us that they've had more parents ask about the chickenpox vaccination service, and word of mouth has then spread amongst parents and schools."