Costco responds to union: After some of its Virginia workers launched an unexpected move to unionize, Costco Wholesale Corporation came back with an unusual response. The company’s top execs wrote that it was a “failure on our part.” Full story.
CVS drops Humira: CVS Health will no longer include AbbVie’s Humira on most prescription plans and will instead offer less expensive alternatives. The drug, which treats inflammatory conditions, is a top seller, and CVS is the first major benefit manager to shift to alternatives since they became available. The change will take effect in April. Full story.
Jeff Bezos’s new search: San Francisco-based startup Perplexity, which operates an AI-powered search engine, has secured $74 million in funding from a group of investors that includes Amazon founder Jeff Bezos. The company, less than two years old, is one of a number of players betting that artificial intelligence will fundamentally change the way people search the internet. Full story.
Walgreens cuts dividend: Retail pharmacy giant Walgreens posted better-than-expected adjusted earnings on Thursday but said it will cut its dividend in half—from 48 cents to 25 cents a share. The move comes as the company faces pressure to improve its bottom line. Walgreens stock was down more than 11% in early-morning trading on Thursday. Full story.
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
