Rite Aid, McKesson ink 10-year distribution deal

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Rite Aid, McKesson ink 10-year distribution deal

By Sandra Levy - 12/20/2018
Rite Aid, on the heels of announcing its operating results for its third quarter, also revealed that it has also reached an agreement with McKesson that will continue the companies’ pharmaceutical sourcing and distribution partnership for an additional 10 years.

“After a careful and comprehensive review of our drug purchasing options, continuing our partnership with McKesson will provide our company with a combination of competitive drug pricing and operational flexibility that creates the most value to all Rite Aid stakeholders,” Rite Aid CEO John Standley, said. “McKesson has been a valued partner of Rite Aid for more than 20 years, and we’re excited to continue our partnership under new terms that will leverage the strengths of both organizations to help drive future growth.”

McKesson will continue providing Rite Aid with sourcing and direct-to-store delivery for the brand and generic pharmaceutical products through March 2029.

“I am extremely proud of the strength of McKesson’s global sourcing capabilities and industry-leading service levels, which uniquely creates value for our customers and the patients they serve,” McKesson president and CEO, Brian Tyler said. “Rite Aid has been a long-standing valued customer to McKesson, and we look forward to our ongoing partnership.”