In recent months,Walgreens has announced several partnerships including with grocerKroger Co. and the medical-testing company Laboratory Corporationof America Holdings. (Photo: Shutterstock)

Drugstore chain Walgreens Boots Alliance Inc. and insurer HumanaInc. are in early talks about taking equity stakes in each other,the Wall Street Journal reported.

Shares of the companies pared earlier losses after the reportlate Tuesday. Humana finished the day down 1 percent, after earlierfalling as much as 3.5 percent. Walgreens closed down 2.6, afterearlier losing as much as 4.4 percent.

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The companies have held discussions about a variety of joint ventures, the Journal reported, includingexpanding their partnership serving older people. The paper cited peoplefamiliar with the matter without identifying them.

Walgreens declined to comment. A representative for Humanadidn't respond to a request for comment.

Walgreens Chief Executive Officer Stefano Pessina has had alongstanding interest in expanding Walgreens' business. In recentmonths the company has announced several partnerships includingwith grocer Kroger Co. and the medical-testing company LaboratoryCorporation of America Holdings. Its rival CVS Health Corp. ismerging with insurer Aetna Inc. in a tie-up meant to providevertically integrated health-care services.

“We should have bought an insurance company four years ago whenour multiple was was higher than their multiple,” said during aninterview at Bloomberg's offices last month.

Walgreens currently owns 26 percent of drug distributorAmerisourceBergen Corp., and the Wall Street Journal reportedearlier this year that it had held talks to buy the portion that itdoesn't already own.

During the October interview, Pessina didn't rule out thispossibility of a deal between the two at the right price.

“It is something that could happen at a certain point, maybeyes, maybe no,” Pessina said at the time. There was no rush to doso, however, because “we control them strategically.”

AmerisourceBergen shares closed down 2.1 percent.

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