Walgreens, the retail pharmacy giant, is expanding its specialty pharmacy business with a focus on gene and cell therapies. The company announced the launch of Walgreens Specialty Pharmacy, a $24 billion business that integrates new gene and cell services with existing assets including AllianceRx.
The expansion includes an 18,000-square-foot Gene and Cell Services Pharmacy and Innovation Center in Pittsburgh. This facility will help drugmakers navigate the complex supply chain for these emerging therapies, manage patient needs, and ensure a smooth start to treatment.
Specialty medications account for only 1%-2% of a typical employer's overall prescription volume but account for approximately 50% of total annual pharmacy spend. These high-cost treatments are often used for chronic diseases and complex conditions such as cancer, Crohn's disease, and HIV.
Walgreens Specialty Pharmacy will include more than 1,500 specialty-trained pharmacists and 5,000 patient advocacy support team members. The company also operates four central specialty pharmacies and nearly 300 community-based specialty pharmacies across the nation.
Effective August 1, AllianceRx Walgreens Pharmacy will become Walgreens Specialty Pharmacy. This move comes as part of a broader effort to beef up the company's pharmacy business segments and improve its financial performance.
Walgreens has seen consistent growth through its wholly owned subsidiary Shields Health Solutions, the nation's premier health system-owned specialty pharmacy accelerator. The new Walgreens Specialty Pharmacy is expected to build on this success and further expand the company's offerings in the specialty pharmacy market.
