Reuters reported Monday that Walgreens Boots Alliance (NASDAQ:WBA) CEO said at a conference that it has no plans to sell its specialty pharmacy unit, Shields Health Solutions, at this time.
The CEO's comments come after a Bloomberg report in January said Walgreens was exploring a sale of the unit.
Reuters quoted Walgreens CEO Timothy Wentworth as saying: "Shield is a terrific asset, and I love the fact that we've got it. And so, from that standpoint, whatever you may have read, don't believe it. We are not announcing we're selling Shields."
WBA shares are down 1.8% as of 10:50 am ET on Monday.
Walgreens purchased the remaining stake of Shields for $1.37 billion in 2022. The prior year, it spent $970 million to raise its stake in the company to 71%.