Walgreen wants to create a higher quantity of traffic in its stores and foster better customer loyalty by offering discounted prescriptions and discounts on private-label brands to go along with use of the "Complete Care" program. By generating an overall value proposition to the health consumer, Walgreen can link its brand with quality and affordable healthcare. Pharmacies are expanding their input when it comes to the healthcare debate. They see themselves as being part of the solution. And, of course, they see increases in shareholder value by competing for attention in this industry.

However, from a purely investor-centric viewpoint, I see nothing in the Journal article that makes me want to buy Walgreen. It's a good idea and a decent program to try out, but it's not earth-shattering and I don't think anyone should buy based on it. CVS basically does similar things, although as the article does point out, Walgreen will be focusing on employers. Still, I don't see a trade here based on the news item. Walgreen should benefit if it runs the program correctly; I like how the company wants to promote its higher-margin private-label items in its non-pharmacy section. And Walgreen definitely wants to keep ahead of Wal-Mart and its own healthcare initiatives. Again, though, I'll trade on sales and earnings numbers and not this particular news piece.

Disclosure: I don't own any company mentioned; positions can change at any time.