Learning Objectives
After completing this application-based continuing education activity, pharmacists and pharmacy technicians will be able to:
| · Recall outcomes of previous private equity investment |
| · Discuss what factors led to the topple of the Walgreens empire |
| · Dissect the effects of the current healthcare payor system on patients and pharmacies |
| · Develop a plan for potential legislation change |
Release Date
Release Date: June 20, 2026
Expiration Date: June 20, 2029
Course Fee
FREE
There is no funding for this CE.
ACPE UANs
Pharmacist: 0009-0000-26-038-H04-P
Pharmacy Technician: 0009-0000-26-038-H04-T
Session Codes
Pharmacist: 26POD38-MRQ75
Pharmacy Technician: 26POD38-RQM57
Accreditation Hours
0.5 hours of CE
Accreditation Statements
| The University of Connecticut School of Pharmacy and Pharmaceutical Sciences is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. Statements of credit for the online activity ACPE UAN 0009-0000-26-038-H04-P/T will be awarded when the post test and evaluation have been completed and passed with a 70% or better. Your CE credits will be uploaded to your CPE monitor profile within 2 weeks of completion of the program. |  |
Disclosure of Discussions of Off-label and Investigational Drug Use
The material presented here does not necessarily reflect the views of The University of Connecticut School of Pharmacy and Pharmaceutical Sciences or its co-sponsor affiliates. These materials may discuss uses and dosages for therapeutic products, processes, procedures and inferred diagnoses that have not been approved by the United States Food and Drug Administration. A qualified health care professional should be consulted before using any therapeutic product discussed. All readers and continuing education participants should verify all information and data before treating patients or employing any therapies described in this continuing education activity.
Faculty
Dylan Decandia PharmD
Freelance Medical Writer, Franklyn’s Pharmacy
Ho-Ho-Kus, NJ
Faculty Disclosure
In accordance with the Accreditation Council for Pharmacy Education (ACPE) Criteria for Quality and Interpretive Guidelines, The University of Connecticut School of Pharmacy and Pharmaceutical Sciences requires that faculty disclose any relationship that the faculty may have with commercial entities whose products or services may be mentioned in the activity.
Dylan Decandia PharmD has no relationships with ineligible companies.
Dylan Decandia, PharmD discusses topics in the pharmacy world with a new guest each episode. Catch the next episode on Spotify or Apple Podcasts.
DELVING BEYOND THE SHELVING PODCAST EPISODE 2
Listen on an App
Pharmacist Post Test (for viewing only)
Delving Beyond the Shelving Episode #2: Private Equity and PBMs
Posttest 26-038
Pharmacists and Pharmacy Technicians
1. Which of the following companies has Sycamore Partners invested in?
a. CVS Caremark
b. Playa Bowls
c. Abercrombie and Fitch
*
2. Public scrutiny for private equity firms is often associated with which of the following practices?
a. Cutthroat business practices leading to strenuous and substandard working conditions
b. Lack of funding leading to unsatisfactory hiring practices and poorly staffed retailers
c. Private equity firms ignore SEC regulations leading to audits and employee-related lawsuits
*
3. Walgreens failed to invest in what type of business, leading to its downfall. What type of business was it?
a. Primary care clinics
b. Pharmacy benefit manager
c. Pharmacy manufacturers
*
4. Walgreen’s investment in what company set them back billions of dollars?
a. Caremark
b. VillageMD
c. Aetna
*
5. Which of the following is a consequence of the current pharmacy payor system?
a. Mass pharmacy closures across the country
b. Decreased drug pricing for patients
c. Formulary incorporating most available medications
*
6. Which of the following is an example of potential positive reform to the pharmacy payor system?
a. Keeping the current system and modeling successful pharmacies
b. Developing reasonable dispensing and service reimbursement
c. Lower reimbursement rates to save taxpayer money
*
7. What action can individual pharmacists perform to impact legislative changes?
a. Make time at work to tell prescribers that things are not going well
b. Contact local legislators and explain how PBMs affect your pharmacy
c. Call PBM pharmacy service lines and provide example of corporate greed
*
8. Which statement is most closely related to current changes in pharmacy PBM legislation?
a. Legislation is rapidly changing; the system will change for the better soon
b. State governments are laying the groundwork to challenge PBMs
c. The federal government is targeting some PBMs in Congressional hearings
Pharmacy Technician Post Test (for viewing only)
Delving Beyond the Shelving Episode #2: Private Equity and PBMs
Posttest 26-038
Pharmacists and Pharmacy Technicians
1. Which of the following companies has Sycamore Partners invested in?
a. CVS Caremark
b. Playa Bowls
c. Abercrombie and Fitch
*
2. Public scrutiny for private equity firms is often associated with which of the following practices?
a. Cutthroat business practices leading to strenuous and substandard working conditions
b. Lack of funding leading to unsatisfactory hiring practices and poorly staffed retailers
c. Private equity firms ignore SEC regulations leading to audits and employee-related lawsuits
*
3. Walgreens failed to invest in what type of business, leading to its downfall. What type of business was it?
a. Primary care clinics
b. Pharmacy benefit manager
c. Pharmacy manufacturers
*
4. Walgreen’s investment in what company set them back billions of dollars?
a. Caremark
b. VillageMD
c. Aetna
*
5. Which of the following is a consequence of the current pharmacy payor system?
a. Mass pharmacy closures across the country
b. Decreased drug pricing for patients
c. Formulary incorporating most available medications
*
6. Which of the following is an example of potential positive reform to the pharmacy payor system?
a. Keeping the current system and modeling successful pharmacies
b. Developing reasonable dispensing and service reimbursement
c. Lower reimbursement rates to save taxpayer money
*
7. What action can individual pharmacists perform to impact legislative changes?
a. Make time at work to tell prescribers that things are not going well
b. Contact local legislators and explain how PBMs affect your pharmacy
c. Call PBM pharmacy service lines and provide example of corporate greed
*
8. Which statement is most closely related to current changes in pharmacy PBM legislation?
a. Legislation is rapidly changing; the system will change for the better soon
b. State governments are laying the groundwork to challenge PBMs
c. The federal government is targeting some PBMs in Congressional hearings
References
Full List of References
1#. Walgreens Shareholders Approve $10 Billion Private Equity Buyout. Yahoo Finance. July 11, 2025. Accessed July 15, 2025.
https://finance.yahoo.com/news/walgreens-private-10-billion-deal-225338615.html?guccounter=1
2#. Sycamore Partners Acquires 51% Interest in Mast Global Fashions. Sycamore Partners. November 3, 2011. Accessed July 15, 2025. https://www.sycamorepartners.com/news/article/25
3#. Private Equity Funds. United States Securities and Exchange Commission. Accessed July 16, 2025.
https://www.investor.gov/introduction-investing/investing-basics/investment-products/private-investment-funds/private-equity
4#. What Private Equity Firms Are and How They Operate. ProPublica. August 3, 2025. Accessed July 16, 2025. https://www.propublica.org/article/what-is-private-equity
5#. 10 Top Private Equity Firms by Total Equity. Investopedia. Updated July 16, 2025. Accessed July 17, 2025. https://www.investopedia.com/articles/markets/011116/worlds-top-10-private-equity-firms-apo-bx.asp
6#. Why Is Private Equity Gaining Popularity? Forbes. May 9, 2024. Accessed July 17, 2025.
https://www.forbes.com/councils/forbesfinancecouncil/2024/05/09/why-is-private-equity-gaining-popularity/
8#. Walgreens Boots Alliance, Inc. (WBA). Yahoo Finance. Accessed July 17, 2025. https://finance.yahoo.com/quote/WBA/
9#. Walgreens Boots Alliance Enters into Definitive Agreement to Be Acquired by Sycamore Partners. Walgreens Boots Alliance. March 6, 2025. Accessed July 15, 2025.
https://investor.walgreensbootsalliance.com/news-releases/news-release-details/walgreens-boots-alliance-enters-definitive-agreement-be-acquired
10#. Walgreens Shareholders Approve $10 Billion Private Equity Buyout. Forbes. July 11, 2025. Accessed July 15, 2025.
https://www.forbes.com/sites/brucejapsen/2025/07/11/walgreens-shareholders-approve-10-billion-private-equity-buyout/
11#. Walgreens Boots Alliance Accelerates VillageMD Investment and Large-Scale Rollout of Primary Care Clinics. Walgreens Boot Alliance. Accessed July 18, 2025.
https://www.walgreensbootsalliance.com/news-media/press-releases/2021/walgreens-boots-alliance-accelerates-villagemd-investment-and-large
12#. How Walgreens went from pharmacy behemoth to distressed retailer. Reuters. March 7, 2025. Accessed July 15, 2025.
https://www.reuters.com/business/healthcare-pharmaceuticals/walgreens-pharmacy-behemoth-distressed-retailer-2025-03-07/
13#. Walgreens Net Worth 2010-2025 | WBA. Macrotrends. Accessed July 16, 2025.
https://www.macrotrends.net/stocks/charts/WBA/walgreens/net-worth
14#. Walgreens narrows profit outlook for 2024, takes $6B hit in Q2 from VillageMD investment. Fierce Healthcare. March 28, 2024. Accessed July 19, 2025.
https://www.fiercehealthcare.com/retail/walgreens-takes-6b-hit-q2-villagemd-investment#:~:text=Walgreens'%20VillageMD%20bought%20the%20urgent,through%20over%207%2C400%20provider%20locations.
15#. Private Equity Labor Scorecard. Private Equity Stakeholder Project. November 2023. Accessed July 17, 2025. https://pestakeholder.org/pe-labor-scorecard/
16#. The risks of a private equity takeover of Walgreens. Private Equity Stakeholder Project. March 7, 2025. Accessed July 17, 2025. https://pestakeholder.org/news/the-risks-of-a-private-equity-takeover-of-walgreens/
17#. Understanding Drug Tiers. Patient Advocate Foundation. Accessed July 18, 2025.
18#. What Pharmacy Benefit Managers Do, and How They Contribute to Drug Spending. The Commonwealth Fund. March 17, 2025. Accessed July 18, 2025.
https://www.commonwealthfund.org/publications/explainer/2025/mar/what-pharmacy-benefit-managers-do-how-they-contribute-drug-spending
19#. Trends in Retail Prices of Prescription Drugs Widely Used by Older Americans, 2006 to 2020. AARP. January 2024. Accessed July 18, 2025. https://www.aarp.org/content/dam/aarp/ppi/topics/health/prescription-drugs/trends-in-retail-prices-of-prescription-drugs-widely-used-by-older-americans-2006-to-2020.doi.10.26419-2fppi.00219.001.pdf
20#. Anderer S. Nearly 1 in 3 US Pharmacies Have Closed Since 2010, Widening Access Gaps. JAMA. February 4, 2025. Accessed July 17, 2025. doi: 10.1001/jama.2024.26875.
21#. The Powerful Companies Driving Local Drugstores Out of Business. The New York Times. October 19, 2024. Accessed July 18, 2025. https://www.nytimes.com/2024/10/19/business/drugstores-closing-pbm-pharmacy.html#:~:text=This%20has%20been%20happening%20all,dozens%20of%20patients%20and%20pharmacists.
22#. Annual Report 2025. Walgreens Boot Alliance. Accessed July 15, 2025. https://investor.walgreensbootsalliance.com/static-files/1dda9c7b-8315-4527-b4b3-c8cc6b4d7e09
23#. The Real Reason Walgreens Collapsed. The Big News Letter. March 13, 2025. Accessed July 20, 2025. https://www.thebignewsletter.com/p/the-real-reason-walgreens-collapsed
24#. SF 383 – Regulation of Pharmacy Benefit Managers (LSB1492SV.3). Legislative Service Agency. June 6, 2025. Accessed July 20, 2025. https://www.legis.iowa.gov/docs/publications/FN/1528921.pdf
#25 Kicker: What it is, How it Works, and Types. Investopedia. Updated April 26, 2022. Accessed August 6, 2025.