Nearly 80% of respondents reported DIR fees as a very large magnitude challenge, with 83.3% reporting this as a very immediate challenge. Seventy-eight percent of respondents reported MACs not being updated quickly enough to reflect changes in wholesale drug costs as a very large magnitude challenge, with nearly 80% indicating it as a very immediate challenge.
Rite Aid Pharmacy & Business News
The two companies have certified substantial compliance with the Federal Trade Commission — a move that will leave the chains free to merge if the FTC hasn’t issued a decision before July 7.
Four key customer-centric programs that are critical to Rite Aid include its immunization program, medication synchronization, a differentiated loyalty card offeing and a contemporary store format.
As part of its merger agreement with Walgreens Boots Alliance, Rite Aid's agreement to sell 865 stores and certain specified assets to Fred's Pharmacy may expand to as many as 1,200 locations.
Once implemented, the FTC will have 90 days to either clear the $9.7 billion deal, or sue to block it, reported the news outlet.
According to a report in TheStreet published Monday, CNBC "Mad Money" host Jim Cramer advised Walgreens shareholders to hold on to what they have, because no matter how the Rite Aid deal pans out, Walgreens will win. "If the deal's derailed by the FTC, I think we're going to get a truly monster buyback," Cramer said during an exclusive monthly conference call for members of his Action Alert Plus investment club. "If the deal is accepted, analysts can raise their numbers substantially. Those are good outcomes." (TheStreet)
For its 2017 fiscal fourth quarter ended March 4, Rite Aid reported revenues of $8.5 billion and a net loss of $21.1 million. Its adjusted net loss came in at $3.2 million, which bested Wall Street estimates.
Rite Aid has converted almost half of its store base to the highly successful Wellness store format since 2012.
Several categories are heating things up in the beauty aisles, especially Korean beauty.
Fred’s has pledged to buy up to 1,200 stores should the Walgreens Boots Alliance-Rite Aid merger be approved the FTC.