Walgreen Profit Rises 14% on Drug Sales

Walgreen Co., the biggest U.S. drugstore chain by revenue, posted its biggest profit increase in four quarters as sales of generic drugs rose and the company gained customers from a new Medicare prescription plan.

Net income climbed 14% to $469.2 million, or 46 cents a share, exceeding analysts’ estimates. Revenue in the three months ended May 31 increased 12% to $12.2 billion, the Deerfield, Ill.-based company said.