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Walgreen's profit climbs on generic drug sales

March 27, 2007|From Bloomberg News

Walgreen Co.'s fiscal second-quarter earnings rose 25%, more than analysts estimated, on increased sales of more-profitable generic drugs.

Net income climbed to $651.9 million, or 65 cents a share, from $523.5 million, or 51 cents, a year earlier, the company said. Analysts surveyed by Bloomberg had forecast profit of 61 cents at the largest U.S. drugstore chain.

Sales at Deerfield, Ill.-based Walgreen rose 15% to $13.9 billion.

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