Walgreens is doubling down on clinical trials after competitor CVS Health said it would be exiting that market by the end of 2024, Yahoo Finance reported.
Retailers began launching research institutes during the pandemic to get access to more diverse study participants. However, CVS said May 15 it would be winding down its clinical trial business to focus on its "long-term strategic priorities."
"We are full steam ahead as we continue to support many of our manufacturers that have come into the ecosystem since June," Ramita Tandon, chief clinical trials officer at Walgreens, told Yahoo Finance in the May 15 story. "We're very focused on what we're doing at Walgreens because it's part of the broader healthcare mission and journey that we're on."