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Trouble at the Corner Drugstore
街角藥店的困境
Amid price pressure and a shift to web sales, Walgreens itself could use a prescription
面對價(jià)格壓力和向網(wǎng)絡(luò)銷售轉(zhuǎn)型，藥店連鎖機(jī)構(gòu)沃爾格林可以應(yīng)用的處方方案
When billionaire Stefano Pessina took over as chief executive officer of Walgreens Boots Alliance Inc. in 2015, he soon began hunting for his next big deal.
2015年，億萬富翁斯德法諾·佩斯納接任沃爾格林博姿聯(lián)合公司（Walgreens Boots Alliance Inc.）首席執(zhí)行官后，他很快就開始尋找下一筆大生意。
By October of that year, he'd found it: a $9.4 billion plan to buy Rite Aid Corp. that would have vaulted Walgreens past CVS Health Corp. to become by far the largest U.S. drugstore chain.
在當(dāng)年的10月份，他發(fā)現(xiàn)了一項(xiàng)價(jià)值94億美元，收購醫(yī)藥連鎖店來德愛公司（Rite Aid Corp.）的計(jì)劃，該計(jì)劃將使沃爾格林超越西維斯健康集團(tuán)（CVS Health Corp.），成為迄今為止美國最大的藥品連鎖店。
But after he spent almost two years wooing government officials and investors, regulators prevented Walgreens from swallowing Rite Aid.
但在他花了將近兩年時(shí)間博取政府官員和投資者支持后，監(jiān)管機(jī)構(gòu)阻止沃爾格林吞并來德愛公司。
In September 2017, Pessina had to settle for buying 1,932 Rite Aid stores, less than half as many as his original target.
2017年9月，佩斯納不得不接受收購1932家來德愛公司的交易，這個(gè)數(shù)量不足他最初目標(biāo)的一半。
As it turns out, that might have spared Walgreens an even more painful reckoning than the one it now faces.
事實(shí)證明，這可能使沃爾格林避免面臨比現(xiàn)在所處的更艱難的局面。
On April 2 shares of the company plummeted 13 percent after it said earnings would be stagnant for the rest of its fiscal year, which ends on Aug. 31.
4月2日，該公司股價(jià)暴跌13%。此前該公司表示，其財(cái)年剩余時(shí)間（8月31日結(jié)束）內(nèi)的盈利將停滯不前。
Pessina, who owns 15.9 percent of Walgreens shares, lost $1.2 billion of his personal wealth in one day; the stock's total decline since his Britain-centered Alliance Boots drugstore chain merged with the U.S.- based chain has reached 28 percent.
佩斯納擁有沃爾格林15.9%的股份，他一天內(nèi)損失了12億美元的個(gè)人財(cái)富；自從他將以英國為中心的博姿聯(lián)合藥品連鎖店與美國連鎖店合并以來，這只股票的總跌幅已達(dá)28%。
Walgreens's troubles reflect a power shift that's reshaping the entire prescription-drug industry, from the companies that research and manufacture pills to the insurance companies that pay for them. Washington's clamor to reduce drug costs has compressed profit margins for physical drugstores such as Walgreens, CVS, and Rite Aid.
沃爾格林面臨的問題反映出一種權(quán)力轉(zhuǎn)移，它正在重塑整個(gè)處方藥行業(yè)，使其從研究和生產(chǎn)藥品的公司轉(zhuǎn)型到為藥品買單的保險(xiǎn)公司。美國政府要求降低藥品成本的呼聲，已經(jīng)縮減了沃爾格林、西維斯、來德愛等實(shí)體藥店的利潤率。
Big Pharma isn't raising the list prices of brand-name drugs as fast as they once did, limiting growth in the already small cut drugstores can make from new blockbusters.
大型制藥公司并沒有像以前那樣快速提高名牌藥品的價(jià)格，限制了小規(guī)模藥店從新的暢銷藥品中可獲得的增長。
Meanwhile, pharmacies have been unable to make up the shortfall with bigger markups on generic medications, because those prices aren't falling as rapidly as in years past.
與此同時(shí)，藥店無法通過提高仿制藥的價(jià)格來彌補(bǔ)虧損，因?yàn)榉轮扑幍膬r(jià)格并不像過去幾年那樣在迅速下跌。
