Walgreen to Close 76 Stores - Presented by: The Aol. On Network

The availability of fewer new generic drugs for sale dented Walgreen's profit in the latest quarter. Generic drugs offer fat profit margins than branded drugs, but less of those are available because fewer blockbuster drugs are coming off patent. Adding to the sting: a rather mild flu season bit into profit growth of its pharmacy business, which makes up the bulk of Walgreen's sales. So net profit slipped despite a solid gain in sales.



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