April 2, 2019 / 11:08 AM / 3 months ago

Walgreens cuts 2019 profit growth forecast

April 2 (Reuters) - Walgreens Boots Alliance Inc reduced its full-year earnings growth forecast as the drugstore chain struggles with falling prices of generic alternatives to branded drugs.

The company reduced its adjusted earnings forecast for fiscal 2019, from a range of 7 percent to 12 percent growth, to roughly flat, at constant currency rates.

Net income attributable to Walgreens fell 14 percent to $1.16 billion, or $1.24 per share, in the second quarter ended February 28, from $1.35 billion, or $1.36 per share, a year earlier. (Reporting by Aakash Jagadeesh Babu and Saumya Sibi Joseph in Bengaluru; Editing by Shailesh Kuber)

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