Since the start of 2025, WBA is up 17.8%, cutting into its now 46.6% year-over-year deficit. The stock's record high of $97.30 was nearly 10 years ago, and the shares have finished with annual losses for the past three years.

Walgreens shares fell more than 5% Friday as details about a potential sale emerged and one analyst team said the stock had "run too far" on transaction speculation. Walgreen shares began trending up in December, when the Financial Times reported that the pharmacy company was exploring a sale with a private equity firm.

Walgreens Boots Alliance is closing in on a deal with private-equity firm Sycamore Partners that would take the struggling drugstore chain off the public market for around $10 billion, according to people familiar with the matter.