Rite Aid Returns to Profit After 5 Years, thanks to Walgreens
Rite Aid said the number of prescriptions filled at stores open at least a year climbed 3.6 percent, an increase that was aided by a split between rival drugstore chain Walgreen Co. and pharmacy benefits manger Express Scripts Holding Co. The companies had let a contract between them expire in December, and they didn't agree on a new deal until this summer. The split meant many Express Scripts customers had to find new drugstores for their prescriptions.
Prescriptions accounted for nearly 68 percent of Rite Aid's total drugstore revenue.