Cencora says some Walgreens volume moving outside company

Cencora has indicated that some volume from Walgreens Boots Alliance is shifting outside of its operations, according to recent developments. This shift comes amid Walgreens’ ongoing reduction of its stake in Cencora, which now holds approximately 6% of the company, down from 10% earlier in 2025. Walgreens has sold or repurchased shares in Cencora multiple times in recent years, including a $400 million repurchase by Cencora in May 2024 and a $50 million repurchase in February 2025. These transactions are part of Walgreens’ strengthen its balance sheet and focus on capital-efficient operations.

Cencora, in response, has raised its fiscal 2024 adjusted diluted earnings per share guidance to $13.35 to $13.55, reflecting the impact of a reduced share count and increased interest expenses due to share repurchases. While the company has not provided specific details on the volume shift, it has emphasized its continued partnership with Walgreens, despite the reduction in ownership. Cencora remains a key player in the pharmaceutical supply chain, supporting healthcare providers and pharmaceutical innovators globally.