Walgreens is an American pharmacy store chain headquartered in Deerfield, Illinois.[3][4] It is the second largest pharmacy chain in the United States, behind CVS Pharmacy.[5] Walgreens operated more than 8,700 stores in the U.S. as of March 2025.[6] In addition to pharmacy services, Walgreens also offers photo services.[7]
Walgreens was founded in Chicago by Charles Rudolph Walgreen in 1901. On December 31, 2014, Walgreens acquired Switzerland and UK-based Alliance Boots, and formed a new holding company, Walgreens Boots Alliance. Walgreens became a subsidiary of the new company, which retained its Deerfield headquarters and traded on the Nasdaq under the symbol WBA.[8] As of August 2025, Walgreens is owned by private equity firm Sycamore Partners. Walgreens has been the subject of a number of lawsuits over discrimination, drug fraud, federal billing fraud, distribution of opioids, discrepancies between shelf price and scanned price, overcharging, illegal disposal of hazardous waste, selling expired items, misleading investors, unlicensed pharmacists, and wage theft. In 2021, Walgreens was one of several pharmacy chains found by a federal jury to have substantially contributed to the opioid crisis.
History
Walgreens began in 1901, when Charles Rudolph Walgreen purchased a small food front store on the corner of Bowen and Cottage Grove Avenues in Chicago, where he had worked as a pharmacist.[9] Walgreen manufactured his own line of drug products. By 1913, Walgreens had grown to four stores on Chicago's South Side. It opened its fifth in 1915 and four more in 1916. By 1919, there were 20 stores in the chain. As a result of alcohol prohibition, the 1920s were a successful time for Walgreens: although alcohol was illegal, Walgreens sold prescription whiskey.[10] This prescribed alcohol was sold at inflated price, compared to a speakeasy.[11] In 1922, Walgreens introduced a malted milkshake, which led to its establishing ice cream manufacturing plants.[12] A Walgreens employee named Ivar Coulson modified the basic malted milk recipe by adding scoops of vanilla ice cream.[13]
Store model
In its 2009 business model, Walgreens are freestanding corner stores, with the entrance on the street with the most traffic flow, figuratively making it a "corner drugstore" similar to how many independent pharmacies evolved. Many stores have a drive-through pharmacy.[71] Most freestanding stores have a similar look and layout, including a bigger and more spacious layout than certain stores in major cities. Newer buildings have a more modern design than older stores. Some stores in major cities, such as New York and Chicago, have multiple floors, most notably their flagship stores. Behind the front registers are tobacco products and alcoholic beverages. Some stores do not sell these products, e.g., New Jersey stores that do not sell alcohol and Massachusetts stores that do not sell tobacco.[72]
Lawsuits and criticism against Walgreens
Federal billing fraud and price negotiation
In 2009, Walgreens threatened to leave the Medicaid program, the state and federal partnership to provide health insurance coverage to the poor, in Delaware over reimbursement rates. Walgreens was the largest pharmacy chain in the state and the only chain to make such a threat.[73] The state of Delaware and Walgreens reached an agreement on payment rates and the crisis was averted.[74]
In 2010, Walgreens stopped accepting Medicaid in Washington state, leaving its one million Medicaid recipients unable to use Medicaid to pay for their prescriptions filled at these 121 stores.[75]
Distribution of opioids
In September 2012, the U.S. Drug Enforcement Administration
Sustainability
In 2016, Walgreens committed to providing 100 percent cage-free shell and liquid eggs in stores across the U.S. by 2025. In 2023, Walgreens has met its target two years ahead of schedule.[89]
Brands
See also
- Alliance Boots
- CVS Pharmacy
- Rite Aid
- Walgreen Coast
External links
References
- Walgreen Co. To Operate as Private Standalone Company Following Acquisition By Sycamore Partners 28 August 2025, retrieved 6 November 2025^
- Adrianne Pasquarelli. Goodbye 'Corner of Happy & Healthy.' Walgreens Rebrands as Rival CVS Scoops Up Aetna AdAge, December 4, 2017, retrieved December 5, 2017^
- "Contact Us