Apr 2, 2019

Walgreens slammed by lower pharmacy payments

Walgreens says it will cut $1.5 billion in annual costs by 2022. Photo: Joe Raedle/Getty Images

The stock price of Walgreens Boots Alliance plummeted more than 12% Tuesday after the pharmacy chain slashed profit estimates for the rest of the year and posted what it called "the most difficult quarter" since Walgreens and Boots Alliance merged in late 2014.

The big picture: Drug pricing middlemen are paying Walgreens' pharmacies less to dispense prescriptions. That "reimbursement pressure," combined with the overhang of drug price reform and Amazon's looming drug mailing presence, is rattling the entire retail pharmacy industry.

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Your guide to comparing climate change and coronavirus

Illustration: Eniola Odetunde/Axios

Climate change and the coronavirus have a lot more in common than the letter C, but their differences explain society’s divergent responses to each.

Why it matters: The Internet is full of comparisons, some from biased perspectives. I'm going to try to cut through the noise to help discerning readers looking for objective information.

Updated 2 hours ago - Politics & Policy

George Floyd protests: Unrest continues for 6th night across U.S.

A protest near the White House on Sunday night. Photo: Alex Wong/Getty Images

Most external lights at the White House were turned off late Sunday as the D.C. National Guard was deployed and authorities fired tear gas at hundreds of protesters nearby, per the New York Times.

What's happening: It's one of several tense, late-night standoffs between law enforcement and demonstrators in the United States.

Updated 7 hours ago - Politics & Policy

Journalists get caught in the crosshairs as protests unfold

A man waves a Black Lives Matter flag atop the CNN logo outside the CNN Center during a protest in response to the police killing of George Floyd, Atlanta, Georgia, May 29. Photo: Elijah Nouvelage/Getty Images

Dozens of journalists across the country tweeted videos Saturday night of themselves and their crews getting arrested, being shot at by police with rubber bullets, targeted with tear gas by authorities or assaulted by protesters.

Driving the news: The violence got so bad over the weekend that on Sunday the Cleveland police said the media was not allowed downtown unless "they are inside their place of business" — drawing ire from news outlets around the country, who argued that such access is a critical part of adequately covering protests.