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Walgreens (WBA) and UBER Tie Up to Expand COVID Vaccine Access
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Walgreens Boots Alliance, Inc. (WBA - Free Report) entered into an agreement with Uber Technologies, Inc. (UBER - Free Report) to offer rides to access COVID-19 vaccine among underserved communities. Notably, Walgreens and Uber pilot programs will begin in cities like Chicago, Atlanta, Houston and El Paso.
As part of a larger commitment by Uber, free or discounted transportation will be offered from Walgreens stores and offsite vaccine clinics.
Per Centers for Disease Control and Prevention (CDC), many interrelated factors hinder vaccine access for communities of color, including vaccine hesitancy and lack of access to transportation. Uber and Walgreens will work together to combine their expertise to address common barriers to health equity, including education, access and technology.
More on the Collaboration
As part of the Walgreens partnership, last December, Uber committed to provide 10 million of free or discounted rides to ensure that transportation does not hinder people’s access to vaccines. Walgreens will play an expanded role to continue building a broad alliance of organizations dedicated to breaking down transportation barriers in underserved communities.
The companies will roll out several initiatives over the coming months once vaccines become widely available. In this regard, Walgreens will develop new in-app features to seamlessly connect people, including active drivers, delivery people, and freight carriers using Uber, Uber Eats, or Uber Freight, with vaccines.
The target community will get one-click access to pre-schedule rides on Uber when a vaccination appointment is made by them. Also, the companies are working on developing an educational program with the National Urban League to reduce vaccine uncertainty.
Walgreens will leverage Uber’s expertise to bring vaccine access among those hit hardest by the pandemic. Walgreens recently expanded different models of care to ensure the delivery of vaccines in underserved and rural areas, like mobile and off-site clinics.
Notable Developments
In February 2021, Walgreens was selected by CDC and U.S. Department of Health and Human Services to provide a limited number of COVID-19 vaccinations across 15 states and jurisdictions, as part of the Federal Retail Pharmacy Program. Walgreens is extending its pharmacy teams to stand ready with their expertise to help educate and vaccinate additional Americans, including rural and underserved communities.
In continuation with its commitment, Walgreens administered more than 1.75 million COVID-19 vaccinations across long-term care facilities and other vulnerable populations identified as part of state and local jurisdiction distribution plans during February.
Industry Prospects
Per a report by Fortune Business Insights, the global vaccine market was worth $46.88 billion in 2019 and is anticipated to reach $104.87 billion by 2027, at a CAGR of 10.7%. The outbreak of COVID-19 has accelerated demand to increase vaccine production capabilities and raise supply. Additionally, increasing prevalence of the infectious disease is anticipated to drive the market.
Price Performance
Over the past three months. Shares of the company have gained 26.6% compared with the industry’s growth rate of 11.7%.
Zacks Rank and Key Picks
Currently, Walgreens carries a Zacks Rank #3 (Hold).
Herbalife has a projected long-term earnings growth rate of 17.9%.
Rite Aid has an estimated long-term earnings growth rate of 326%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Walgreens (WBA) and UBER Tie Up to Expand COVID Vaccine Access
Walgreens Boots Alliance, Inc. (WBA - Free Report) entered into an agreement with Uber Technologies, Inc. (UBER - Free Report) to offer rides to access COVID-19 vaccine among underserved communities. Notably, Walgreens and Uber pilot programs will begin in cities like Chicago, Atlanta, Houston and El Paso.
As part of a larger commitment by Uber, free or discounted transportation will be offered from Walgreens stores and offsite vaccine clinics.
Per Centers for Disease Control and Prevention (CDC), many interrelated factors hinder vaccine access for communities of color, including vaccine hesitancy and lack of access to transportation. Uber and Walgreens will work together to combine their expertise to address common barriers to health equity, including education, access and technology.
More on the Collaboration
As part of the Walgreens partnership, last December, Uber committed to provide 10 million of free or discounted rides to ensure that transportation does not hinder people’s access to vaccines. Walgreens will play an expanded role to continue building a broad alliance of organizations dedicated to breaking down transportation barriers in underserved communities.
The companies will roll out several initiatives over the coming months once vaccines become widely available. In this regard, Walgreens will develop new in-app features to seamlessly connect people, including active drivers, delivery people, and freight carriers using Uber, Uber Eats, or Uber Freight, with vaccines.
The target community will get one-click access to pre-schedule rides on Uber when a vaccination appointment is made by them. Also, the companies are working on developing an educational program with the National Urban League to reduce vaccine uncertainty.
Walgreens will leverage Uber’s expertise to bring vaccine access among those hit hardest by the pandemic. Walgreens recently expanded different models of care to ensure the delivery of vaccines in underserved and rural areas, like mobile and off-site clinics.
Notable Developments
In February 2021, Walgreens was selected by CDC and U.S. Department of Health and Human Services to provide a limited number of COVID-19 vaccinations across 15 states and jurisdictions, as part of the Federal Retail Pharmacy Program. Walgreens is extending its pharmacy teams to stand ready with their expertise to help educate and vaccinate additional Americans, including rural and underserved communities.
In continuation with its commitment, Walgreens administered more than 1.75 million COVID-19 vaccinations across long-term care facilities and other vulnerable populations identified as part of state and local jurisdiction distribution plans during February.
Industry Prospects
Per a report by Fortune Business Insights, the global vaccine market was worth $46.88 billion in 2019 and is anticipated to reach $104.87 billion by 2027, at a CAGR of 10.7%. The outbreak of COVID-19 has accelerated demand to increase vaccine production capabilities and raise supply. Additionally, increasing prevalence of the infectious disease is anticipated to drive the market.
Price Performance
Over the past three months. Shares of the company have gained 26.6% compared with the industry’s growth rate of 11.7%.
Zacks Rank and Key Picks
Currently, Walgreens carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical are Herbalife LTD. (HLF - Free Report) and Rite Aid Corporation , both carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Herbalife has a projected long-term earnings growth rate of 17.9%.
Rite Aid has an estimated long-term earnings growth rate of 326%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>