Walgreens said the drugstore chain remains committed to conducting clinical trials despite rival CVS … [+]
Walgreens on Monday said the pharmacy chain remains committed to conducting clinical trials despite rival CVS Health’s decision to wind down its clinical trials by the end of next year.
It’s not a huge business for either CVS or Walgreens, with both companies launching clinical trials in the last two years at a time the U.S. Food and Drug Administration was looking for ways to improve drug research and patient health outcomes by enrolling more Americans from underrepresented populations into U.S. clinical trials.
CVS has spent $20 billion in the last year on adding physician-staffed clinics and practices for seniors and other patients via its Oak Street Health acquisition and on building a home care platform through its purchase of Signify Health. CVS also operates more than 1,000 MinuteClinics and has been adding more primary care services and over-the-counter health products at its HealthHUB locations.
“We continually evaluate our portfolio of assets to ensure they are aligned with our long-term strategic priorities,” CVS said Monday in a statement. “As a result, we’re winding down our Clinical Trial Services business in a phased way, with a full exit expected by December 31, 2024. We’ll work with our trial sponsors to ensure a smooth transition, as well as continuity of care and 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, delivering high-quality services to our patients, partners and clients,” Walgreens said in a statement. “We remain fully committed to executing patient engagement and recruitment activities, activating clinical trial sites and establishing partnerships with pharmaceutical companies and other sponsors.”
Just last month, Walgreens launched a partnership with the biotech company Prothena to “accelerate patient identification and recruitment” for Prothena’s experimental treatment of Alzheimer’s disease.
“Alzheimer’s disease is an incredibly complex disorder and requires all stakeholders to work together to develop and evaluate effective therapies,” Walgreens chief clinical trials officer Ramita Tandon said 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 have a meaningful impact in helping Prothena with their clinical trial recruitment efforts. Our aim is to help build a more representative patient population for Alzheimer’s research, particularly among underserved and diverse communities, to create a better understanding of this disease.”