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4-Traders Homepage  >  Equities  >  Nyse  >  Walgreens Boots Alliance Inc    

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Costco says cooperating with DEA probe on controlled substances

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10/17/2013 | 12:05am CEST

Costco Wholesale Corp (>> Costco Wholesale Corporation) said on Wednesday that it will cooperate with the U.S. Drug Enforcement Administration in its ongoing investigation of prescriptions for controlled substances, after receiving subpoenas and warrants from the DEA.

Costco Wholesale Corp (>> Costco Wholesale Corporation) said on Wednesday that it will cooperate with the U.S. Drug Enforcement Administration in its ongoing investigation of prescriptions for controlled substances, after receiving subpoenas and warrants from the DEA.

The DEA has targeted large pharmacy chains and distributors to stem the flow of prescription drugs where abuse is suspected.

The DEA revoked the controlled substance licenses of two CVS Caremark Corp (>> CVS Caremark Corporation) drugstores in Florida in 2012, and earlier this year Walgreen Co (>> Walgreen Company) reached a record $80 million settlement with the agency to resolve allegations that its negligence in record-keeping and dispensing allowed highly addictive drugs to reach abusers and be sold illegally.

Costco announced its plans to cooperate with the DEA's subpoenas and administrative inspection warrants in a filing with the U.S. Securities and Exchange Commission on Wednesday. It said the matter concerned its "fulfillment of prescriptions related to controlled substances and related practices."

Additional details were not provided, and company representatives declined to comment beyond what was included in the regulatory filing.

(Reporting by Jessica Wohl in Chicago; Editing by Leslie Adler and Bob Burgdorfer)

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Financials ($)
Sales 2016 117 879 M
EBIT 2016 7 248 M
Net income 2016 4 030 M
Debt 2016 10 410 M
Yield 2016 1,78%
P/E ratio 2016 21,33
P/E ratio 2017 17,38
EV / Sales 2016 0,83x
EV / Sales 2017 0,79x
Capitalization 87 300 M
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Number of Analysts 24
Average target price 92,3 $
Spread / Average Target 14%
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NameTitle
Stefano Pessina Executive Vice Chairman & Chief Executive Officer
James A. Skinner Executive Chairman
Ornella Barra Co-Chief Operating Officer
Alexander W. Gourlay Co-Chief Operating Officer
George Rollo Fairweather Global Chief Financial Officer & Executive VP
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