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Albertsons to buy rest of Rite Aid as Amazon threat looms


Albertsons to buy rest of Rite Aid as Amazon threat loomsShares in Rite Aid fell 30 percent in the six months after Walgreens agreed to buy half of its stores, with investors judging the smaller pharmacy chain was in danger of being left with little scale and negotiating power to beat down drugmakers and insurers on price. Its stock initially surged by as much as 25 percent on Tuesday after the announcement of Albertsons purchase, which bring it more than 2,500 retail locations and a pharmacy benefits business. Albertsons said its buyout, which will allow it to unify its own retail pharmacy operations under the Rite Aid brand, would give it greater clout with patients and drug industry players alike.





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