In a concerted effort to improve patient access to vaccines
) supplied additional doses of vaccine to 204 locations in the
state. The move is a strategic beneficial maneuver as the new
Indiana State law takes effect, from Jul 1, 2013.
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As advocated by the Centers for Disease Control and Prevention
(CDC), pharmacists in Indiana are entitled to provide
immunizations to all adolescents and adults with a prescription.
Following the new state legislation, five of these vaccines will
be available without a prescription and without any prior
appointment at Walgreens pharmacies on a regular basis.
Subsequently, Influenza, Tetanus, diphtheria, pertussis (Tdap),
Human papillomavirus (HPV), or Meningococcal vaccines will be
accessible at Walgreens pharmacies across Indiana to patients
aged over 11 years. The easy accessibility to these vaccines is
intended to improve protection for individuals against
meningitis, pneumonia and whooping cough among other infectious
Moreover, patients over 65 years of age in the state will not
require a prescription for Pneumococcal vaccine. The flu shots
will also be available from Aug 2013.
With the new state legislation in place, demand for vaccines in
Indiana is likely to soar. While Walgreens' decision appears to
be a rational and lucrative opportunity to garner incremental
revenues, other players providing vaccines such as
CVS Caremark Corporation
) also stand to gain from the new state laws.
In the most recent quarter, Walgreens gained 80 basis points of
the pharmacy market share. With this move, the company has
positioned itself to gain further market share as the laws begin
to take effect.
Currently, the stock carries a Zacks Rank #3 (Hold). Other stocks
), carrying a Zacks Rank #2 (Buy) warrants a look.