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Pharmaceutical Industry
With purchase of EnvisionRx, Rite Aid gets in on the drug intermediary racket
With purchase of EnvisionRx, Rite Aid gets in on the drug intermediary racket

John Standley, chief executive of the Rite Aid pharmacy chain, was effusive this week in describing how consumers will benefit from his company spending $2 billion to buy EnvisionRx, a firm most people likely never heard of. The deal, he said, will allow Rite Aid to expand its "health and wellness offerings" and enhance the company's ability "to provide a higher level of care to the patients and communities we serve." A great advance, in other words, for the U.S. healthcare system. ------------ FOR THE RECORD: Rite Aid: In the Feb. 13 Business section, a column about Rite Aid's acquisition of a pharmacy benefits manager said that the company would manage the...

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