Walgreen: Medicaid settlement won't hurt results

CHICAGO, June 4 (Reuters) - Drugstore chain operator Walgreen Co (WAG.N) said on Wednesday it has taken a reserve for a $35 million payment to settle claims it improperly switched patients to more expensive versions of three drugs.

"Walgreen has reserved for the settlement, which will have no impact on financial results," the company said.

The company denied any wrongdoing in connection with the settlement, which was announced earlier Wednesday by the Justice Department. (Reporting by Brad Dorfman; editing by Jeffrey Benkoe)