Statement on Walgreens Decision to Keep Its Headquarters in the United States

CHICAGO – Today, Walgreens announced that it would purchase the remaining 55 percent of Swiss-based pharmacy Alliance Boots GmbH, combining two of the world’s largest pharmacy retailers. The combined company elected not to perform a corporate inversion – which would have relocated the company headquarters overseas in order to reduce its tax liability – and instead to remain in Illinois. Rep. Jan Schakowsky released the following statement on the merger:

“I am pleased that Walgreens, which got its start in Chicago more than a century ago, decided today to combine operations with Alliance Boots and expand its operations in Europe without performing a tax inversion. Doing so is in the best long-term interest of the company, its employees, and our country.

I am strongly opposed to tax inversions – which allow U.S. companies to reincorporate overseas in order to avoid U.S. taxes – and I am pleased that the new company will maintain its headquarters in the Chicago area rather than Switzerland. American consumers, infrastructure, and education have helped Walgreens become the company it is today, and its board acknowledged those factors when it decided not to invert to Switzerland. Walgreens is an American company, and its decision to maintain its headquarters in the United States ensures that it will remain one.

Walgreens customers know they can rely on the company to provide high-quality service and products just around the corner. I believe the public will recognize and reward Walgreens’ decision not to avoid paying its fair share of taxes in the country that has helped support and sustain its growth. I look forward to continuing to shop at my neighborhood Walgreens stores.”