WBEZ | drugstore.com http://www.wbez.org/tags/drugstorecom Latest from WBEZ Chicago Public Radio en Walgreen Company acquires drugstore.com http://www.wbez.org/story/drugstorecom/walgreen-company-acquires-drugstorecom-84199 <img typeof="foaf:Image" src="http://llnw.wbez.org/archives/images/cityroom/cityroom_20100217_newsintern_649970_Walg_large.png" alt="" /><p><p>North suburban-based Walgreen Company has announced it's buying a web site for more than $400 million. In a statement, Walgreen said it acquired drugstore.com in a deal valued at $409 million.</p><p>Matt Coffina, who analyzes Walgreen for Morningstar, said the acquisition makes sense for Walgreen's strategic future, but it isn't necessarily a good financial deal.</p><p>&quot;I think they want to be the drug store of choice and they want to be there for consumers regardless of what channel they use to purchase their drug store-like items and so this was one way of meeting that demand,&quot;&nbsp;Coffina said.</p><p>Coffina said drug store dot com has not been profitable in its 10-year history. He said Walgreen Company is likely to remain more focused on the nearly 7,700 stores it runs across the country than on its online presence.</p></p> Thu, 24 Mar 2011 17:56:00 -0500 http://www.wbez.org/story/drugstorecom/walgreen-company-acquires-drugstorecom-84199