Rite-Aid Fights Back Against The Behemoth CVS

Rite Aid - Laguna Woods, CA, United States

Just a start, but yesterday it was announced that Rite-Aid was buying Envision RX, a pharmacy benefits manager for around $2 billion dollars.   Nowhere near what CVS did when they bought Caremark for around $21 billion, but they’ve apparently noticed what it’s done for CVS’s profits and are jumping on board.

Their stock jumped 6.6% yesterday and it’s pretty amazing coming from a company that had so much debt not so long ago.

I guess it’s a matter of time before all of the PBM’s are owned by drug store chains.