Thursday, January 21, 2021

Giant pharmacy merger: Walgreens buys Rite Aid in $17.2 billion deal

Walgreens said on Tuesday that it will buy drug-store chain rival Rite Aid in a $17.2 billion deal that would whittle the nation’s one-time mom-and-pop drug-story industry into two massive competitors.

The deal would combine the second and third largest drug-store operators, and if it gets regulatory approval intensify the already fierce competition between Walgreens and CVS Health.

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Read the entire USA Today article here.

Note:  Stay tuned to eCoronado.com to see what this means for the Walgreens location (925 Orange Avenue) and the Rite Aid location (836 Orange Avenue).

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