FTC orders Rite Aid to divest pharmacies
Rite Aid must sell 23 of the Brooks and Eckerd pharmacies it plans to acquire from the Jean Coutu Group, the Federal Trade Commission announces June 4. Rite Aid announced in August 2006 an agreement to purchase 338 Brooks and 1,516 Eckerd stores, making Rite Aid the third largest chain drug store (1"The Pink Sheet" Aug. 28, 2006, p. 20). "The consent order with the Commission requires the companies to sell pharmacies in all of the markets where competition would be adversely affected by the proposed transaction," Jeffrey Schmidt, director of FTC's Bureau of Competition says in a written release. Commission-approved sales include those to Kinney Drugs, Medicine Shoppe, Walgreen, Big Y, and Weis Markets...
You may also be interested in...
Rite Aid's purchase of Jean Coutu Group's Eckerd and Brooks chain drug stores will improve pharmacy operations by enabling the firm to adopt the other pharmacies' "best practices," Rite Aid CEO Mary Sammons said
Pink Sheet reporters and editor discuss President-Elect Joe Biden’s decision to name the CDER director as acting FDA commissioner and other staffing changes, as well as changes to industry trade groups’ political donations.
Delfi Diagnostics will use the new funds to expand its team of cancer researchers and machine-learning experts to validate its novel approach for early cancer detection through multiple prospective clinical trials.