Walgreens on Monday said the pharmacy chain remains committed to conducting clinical trials despite rival CVS Health’s decision to conclude its clinical trials by the end of next year.
That’s not a big deal for either CVS or Walgreens, with both companies starting clinical trials in the past two years at a time when the US Food and Drug Administration was looking for ways to improve drug research and drug outcomes. patient health by enrolling more Americans from underrepresented populations in US clinical trials.
CVS spent $20 billion over the past year to add clinics and staffed practices for seniors and other patients through the acquisition of Oak Street Health and to build a home care platform through the purchase of Signify Health. CVS also operates more than 1,000 MinuteClinics and has added more primary care services and over-the-counter health products at its HealthHUB locations.
We continuously evaluate our portfolio of assets to ensure they are aligned with our long-term strategic priorities, CVS said in a statement on Monday. As a result, we are discontinuing our clinical trial services business in a phased manner, with a full exit expected by December 31, 2024. We are working with our trial sponsors to ensure a smooth transition as well as continuity of care and a minimal disruption for patients.
Meanwhile, Walgreens, which launched its clinical trials business last year, said it remains committed to conducting clinical trials.
Walgreens’ clinical trials business will continue to operate, providing high-quality services to our patients, partners and customers, Walgreens said in a statement. We remain fully committed to patient engagement and recruitment, activating clinical trial sites and establishing partnerships with pharmaceutical companies and other sponsors.
Just last month, Walgreens launched a partnership with biotech company Prothena to accelerate patient identification and recruitment for the Prothenas investigational treatment of Alzheimer’s disease.
Alzheimer’s is an incredibly complex disorder and requires all stakeholders to work together to develop and evaluate effective therapies, said Ramita Tandon, chief clinical trials officer at Walgreens, when the Prothena collaboration was announced. Through Walgreens’ trusted community pharmacy presence and daily interactions with millions of patients across America, we believe we can make a significant impact in assisting Prothena in its clinical trial recruitment efforts. Our goal is to help build a more representative patient population for Alzheimer’s research, particularly among underprivileged and diverse communities, to create a better understanding of this disease.”
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