Walgreens moves ahead with clinical trials business while CVS exits
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While CVS Health Corporation (NYSE:CVS) plans to shut down its clinical trials unit, rival pharmacy chain Walgreens Boots Alliance (NASDAQ:WBA) continues to expand its business.
Deerfield, Illinois-based Walgreens (WBA) announced a partnership with biotech Freenome on Thursday to jointly conduct clinical studies for the latter’s blood-based tests for early cancer detection in a multi-year partnership.
“At Walgreens, our aim is to help every community we serve see clinical research as a viable care option,” remarked Ramita Tandon, chief clinical trials officer at Walgreens (WBA).
Per the terms, the companies will partner for Freenome’s Sanderson Study, designed to test blood-based early detection tests for multiple cancers using about 8,000 subjects recruited through a network of clinical study partners.
According to a press release, Walgreens (WBA), which recently completed the one millionth patient outreach for clinical trials, will join Freenome to recruit, follow up and conduct cancer tests for patients in Sanderson Study.
Citing a strategic evaluation of its business portfolio in May, CVS (CVS) announced plans to wind down its Clinical Trial Services business by the end of next year.