From CNBC: 2024-10-22 10:56:56

Walmart will deliver prescriptions and additional items to customers’ doorsteps in six states, expanding to 49 states by January. The service costs $9.95 but is free for Walmart+ members. CVS and Walgreens are closing hundreds of stores to boost profits as Walmart aims to outmatch competitors on convenience and low prices.

CVS is down 26% and Walgreens nearly 60% in stock value this year. CVS holds over 25% of U.S. prescription drug revenue, while Walgreens has around 15%. Both face falling reimbursement rates, inflation, and stiff competition. CVS sees leadership changes, plans to cut $2 billion in expenses, and close 900 stores.

Walgreens plans to close around 1,200 stores over three years. Walmart, facing its own challenges, discontinued its low-cost health clinics due to financial struggles. Walmart’s move to offer prescription deliveries is a blow to traditional drugstore chains battling consumer trends and financial pressures.



Read more at CNBC: Walmart will start delivering prescriptions as CVS, Walgreens struggle