The retail pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA) is reportedly planning to get certification to become eligible to sell mifepristone abortion pills. Walgreens is the first major pharmaceutical chain to announce its intention to dispense the pills. The company is expected to report its first-quarter Fiscal 2023 results before the market opens today.
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The move comes after the U.S. Food and Drug Administration (FDA) eased rules regarding the availability of this drug at retail pharmacies. The company is reviewing its pharmacy network to identify locations where mifepristone can be legally sold.
One of its competitors, CVS Health (CVS), is considering obtaining the certification. Meanwhile, Rite Aid (RAD) is reviewing the rules recently passed by the FDA.
Should You Buy WBA Stock?
WBA has a Hold consensus rating based on three Buys, six Holds, and one Sell. The average stock price target of $42.78 implies over 14.1% upside potential. Shares have gained 14.4% over the past three months.
