Walgreens quarterly profit beat helped by higher drug prices, cost cuts

Walgreens Boots Alliance on Thursday reported better-than-expected quarterly profit, as cost-cut measures and higher drug prices boosted its pharmacy operations, and the company nearly halved its dividend to accelerate its savings measures. Shares of the Deerfield, Illinois-based company rose more than 3% as the U.S. pharmacy giant cut dividend payments by 48% to 25 cents per share.The stock lost about 30% in 2023. Fierce competition from rivals, sharply lower sales from COVID-19 vaccines and testing, and d ...