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MARKET MOVERS

Contract fight weighs on Walgreen stock

Walgreen is the largest US drugstore chain, with more than 7,700 stores. For the full fiscal year, it earned $2.71 billion. Yesterday, the stock fell the most in the S&P 500. Walgreen is the largest US drugstore chain, with more than 7,700 stores. For the full fiscal year, it earned $2.71 billion. Yesterday, the stock fell the most in the S&P 500. (J.B. Reed/Bloomberg News/File 2010)
September 28, 2011

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Walgreen Co. shares tumbled as investor concerns over the fate of a multibillion-dollar contract outweighed a jump in the drugstore operator’s quarterly profit to $792 million. The Illinois company is in contract-renewal talks with Express Scripts, but Walgreen told analysts the two sides are “miles apart.’’ Walgreen says it isn’t paid enough to fill prescriptions under the $5.3 billion-per-year deal.