Pharmacy chains are plagued by low profitability, lingering fallout of opioid litigation, and questionable acquisitions.
The U.S. retail pharmacy business is in big trouble. The latest sign came Monday, with a bankruptcy filing from Rite Aid, and the announcement that the company will sell its pharmacy benefit manager and close some stores.
CVS has said it is addressing concerns raised by pharmacists while Walgreens has said it is listening to their concerns. For Rite Aid, the Monday bankruptcy filing wasn’t a surprise, and had been widely anticipated by investors since late August. The company faces a wave of lawsuits over its role in dispensing prescription opioids, and $3.3 billion in long-term debt, according to a company filing. The bankruptcy filing will freeze the opioid lawsuits, and allow the company to settle the claims in the bankruptcy court.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits
Weiterlesen »
Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits. Rite Aid said it would also close “underperforming” stores.
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Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
Weiterlesen »
Major US pharmacy chain Rite Aid files for bankruptcyMajor U.S. pharmacy chain Rite Aid says it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan while coping with falling sales and opioid-related lawsuits.
Weiterlesen »
Pharmacy chain Rite Aid files for bankruptcy amid declining sales and opioid lawsuitsRite Aid said it was arranging for payment of wages and other costs as usual, though some 'underperforming' stores among its more than 2,100 pharmacies in 17 states will be closed.
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