Radar on Drug Benefits

Rite Aid Bankruptcy Follows Years of PBM Misadventure

  • Oct 26
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    Oct 26, 2023

    Rite Aid Corp.’s recent Chapter 11 bankruptcy filing could present an opportunity for health insurers and PBMs to poach some of the firm’s assets. Humana Inc. is one of the retail pharmacy chain’s largest creditors, and PBM MedImpact Healthcare Systems, Inc. has offered to buy Rite Aid’s PBM division for $575 million.

    Experts tell AIS Health, a division of MMIT, that the bankruptcy is tangible proof that retail pharmacy firms are doomed if they don’t diversify. More than ever, consumers shop for both prescriptions and household items online, trends sped up by the COVID-19 pandemic.

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    • Peter Johnson

    Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

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Lauren Flynn Kelly

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View Lauren Flynn Kelly's Profile

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Managing Editor, Radar on Specialty Pharmacy and Spotlight on Market Access

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Managing Editor, Health Plan Weekly and Radar on Drug Benefits

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Reporter, Health Plan Weekly and Radar on Drug Benefits

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Carina Belles

Reporter, Radar on Medicare Advantage and Spotlight on Market Access

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Jinghong Chen

Reporter, Health Plan Weekly and Radar on Drug Benefits

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