Business

Market Movers

Walgreen takes a stake in drug wholesaler

Walgreen runs the largest US drugstore chain. Above, a customer gets a flu shot.

Associated Press/File 2013

Walgreen runs the largest US drugstore chain. Above, a customer gets a flu shot.

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Walgreen Co. is buying a stake in another big company — a deal that could give it more clout when negotiating prices with drug makers. It’s expanding a supply agreement with AmerisourceBergen that gives it and the European health and beauty retailer Alliance Boots a minority stake in the pharmaceutical wholesaler. Walgreen also has a stake in Alliance Boots. Walgreen also said its quarterly earnings climbed 11 percent to $756 million, or 79 cents per share.

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