Rite Aid Corporation (NYSE:RAD) Files An 8-K Other Events
Item 8.01. Other Events.
On December19, Rite Aid Corporation (the “Company”) announced an agreement to key terms with McKesson Corporation (“McKesson”) that will continue the companies’ pharmaceutical sourcing and distribution partnership for an additional 10 years. The Binding Letter of Intent regarding the Eleventh Amendment to the Company’s existing Supply Agreement, effective December19, 2018 (the “Binding LOI”), between the Company and McKesson, extends the term of the supply agreement until March31, 2029, subject to earlier termination under certain circumstances.
to the Binding LOI, the Company will continue to generally be required to (i)purchase from McKesson all of the Company’s requirements for brand name prescription drugs, and (ii)purchase almost all of its generic prescription drugs from McKesson as part of McKesson’s OneStop® proprietary generics program. McKesson will also continue to supply to the Company other health and beauty care products and the provision of related services.
The press release announcing the agreement to key terms is filed herewith as Exhibit99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
99.1. Press Release, dated December19, 2018.
RITE AID CORP Exhibit
EX-99.1 2 a18-41839_2ex99d1.htm EX-99.1 Exhibit 99.1 Press Release For Further Information Contact: RITE AID MCKESSON Investors: Investors and Financial Media: Byron Purcell Craig Mercer (717) 975-5809 415.983.8391 [email protected] [email protected] Media: General and Business Media: Pete Strella Kristin Chasen 717-975-5718 415.983.8974 [email protected] [email protected] FOR IMMEDIATE RELEASE RITE AID AND MCKESSON AGREE TO KEY TERMS FOR PHARMACEUTICAL PURCHASING AND DISTRIBUTION Rite Aid Partnership with McKesson to Continue for 10 Additional Years through March 2029 McKesson to Continue Providing Rite Aid with Sourcing and Direct-To-Store Delivery for Brand and Generic Pharmaceutical Products,…
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About Rite Aid Corporation (NYSE:RAD)
Rite Aid Corporation is a retail drugstore chain. The Company’s segments include Retail Pharmacy and Pharmacy Services. The Company operates under The Rite Aid name. It operates approximately 4,560 stores in over 30 states across the country and in the District of Columbia. The Company’s Retail Pharmacy segment consists of Rite Aid stores, RediClinic and Health Dialog. It sells brand and generic prescription drugs, as well as an assortment of front-end products, including health and beauty aids, personal care products, seasonal merchandise, and a private brand product line. Its front-end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise and numerous other everyday and convenience products. The Company’s Pharmacy Services segment consists of EnvisionRx, which provides a range of pharmacy benefit services.
