Rite Aid's collapse signals a pharmacy access crisis
By B. Douglas Hoey, CEO of the National Community Pharmacists Association, which represents more than 18,000 independent pharmacies across the country.
By B. Douglas Hoey, CEO of the National Community Pharmacists Association, which represents more than 18,000 independent pharmacies across the country.
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The U.S. Bankruptcy Court of New Jersey approved CVS Pharmacy bids on the prescription files of 625 Rite Aid pharmacies across 15 states in areas that CVS serves, as well 64 Rite Aid stores in Idaho, Oregon and Washington.
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CEO Brian Cornell said that the company had fallen short of expectations due to “ongoing pressure in our discretionary business.”
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Dr. Creagh Milford has been with CVS since 2021, most recently serving as president of retail health. He will serve as president of Oak Street Health on an interim basis.
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