• Healthcare

Walmart, CVS, and Walgreens Enter Clinical Trials Business

April 04, 2023

• Retail giants Walmart, CVS, and Walgreens are expanding into the clinical trials business, leveraging their vast retail network and diverse patient data to improve diversity and access to trials.
• Walmart launched a Healthcare Research Institute to enroll customers in healthcare research and has already signed deals with five top pharmaceutical companies. Walgreens partnered with health data company Pluto Health to create a clinical trial model that increases patient enrollment and diversity in sponsor-led drug development research. CVS Health launched a business to improve access and retention rates in clinical trials.
• Despite facing challenges in convincing people to participate in clinical trials, the retailers’ entry into this space holds promise for greater diversity in clinical trials and better health outcomes for all.

 

Walmart, CVS, and Walgreens are among the latest clinical trial entrants. They are betting on their vast retail network and diverse patient data to expand trial access and recruit participants. According to Politico, the retail disruptors’ proximity to diverse populations could give them an edge in this industry.

Most Americans are close to a Walmart, CVS, or Walgreens, making it easier for these companies to improve diversity in clinical trials and support interventions and medications for underrepresented communities. In October, Walmart launched Healthcare Research Institute to allow customers to enroll in healthcare research. The company has already signed deals with five top pharma players and is profiting from the clinical trial business.

Walgreens has also entered the clinical trial business, partnering with health data company Pluto Health to create a clinical trial model that increases patient enrollment and racial and ethnic diversity in sponsor-led drug development research. The company has already converted many locations into clinical trial centers.

Similarly, CVS Health started a company to assist in connecting people to clinical trials to promote broader access to trials and improve the participant experience to increase retention rates. They still need to persuading customers to participate in studies but being close to these patient populations helps.

Less than 4% of Americans participate in clinical trials, and 80% of trials miss their participant participation targets, claims CVS. Yet, the retailers’ involvement in clinical studies might assist in addressing these issues and increase diversity in trials, eventually benefiting everyone’s health.

The retailers are well-positioned to enter the clinical trials market due to their accessibility to a variety of groups and their extensive patient data. Clinical trials are more likely to find successful therapies for underrepresented communities if more diverse populations enroll in them. With the retailers ‘ entry into this market, there is a a promise for more diverse clinical trials and better health outcomes for all.