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Feb 11- Drugstore operator Rite Aid Corp agreed to buy pharmacy benefit manager EnvisionRx for about $2 billion, looking to cut drug procurement costs as reimbursement rates fall. Rite Aid's deal comes nearly a decade after larger rival CVS Health Corp bought Caremark Rx for $21 billion, the only other example of a drug chain buying a benefits manager.
NEW YORK, Feb 11- U.S. stocks edged lower on Wednesday as investors worried about how much risk they should take on while they waited for the outcomes of major talks involving Greece and Ukraine. Adding to the market's uncertainty, the leaders of France, Germany, Russia and Ukraine began peace talks in Belarus, while in Ukraine pro- Moscow separatists tightened the...
*Apple lifts Nasdaq after solar deal. *Rite Aid to buy EnvisionRx for about $2 billion. "We all know what the big problem is- if the Greeks exit, so can others and that would throw this whole EU thing into disarray," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.
*Rite Aid to buy EnvisionRx for about $2 billion. NEW YORK, Feb 11- U.S. stocks were little changed on Wednesday, a day after the S&P 500 reached its highest level of the year and ahead of a meeting of euro zone finance ministers to discuss plans for Greece's debt. "It looks like we are kind of hanging in and waiting to see if there are any fireworks," said Peter Jankovskis,...
Feb 11- Drugstore operator Rite Aid Corp said it would buy pharmacy benefit manager EnvisionRx for about $2 billion, entering the business of administering health plan benefits. The deal will help Rite Aid compete better with CVS Health Corp, which bought Caremark Rx for $21 billion in 2006.. The acquisition of EnvisionRx will also give Rite Aid access to more...
*PepsiCo climbs in premarket after results. *Rite Aid to buy EnvisionRx for about $2 billion. "It looks like we are kind of hanging in and waiting to see if there are any fireworks," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
Some of the names on the move ahead of the open.
Feb 11- Drugstore operator Rite Aid Corp said it would buy pharmacy benefit manager EnvisionRx for about $2 billion, to enter the business of administering drug benefits for employers. The third-largest U.S. drug-store chain said it would pay about $1.8 billion in cash and $200 million in stock. Rite Aid's shares rose 3 percent to $7.88 in premarket trading.
*PepsiCo climbs in premarket after results. *Rite Aid to buy EnvisionRx for about $2 billion. *PepsiCo rose 2.6 percent to $100.50 before the opening bell after the maker of soft drinks and Tropicana beverages posted quarterly results.
Feb 11- Drugstore operator Rite Aid Corp said it would buy privately held pharmacy benefit manager EnvisionRx for about $2 billion.
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Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.
Jan 6- Walgreen Co, the largest U.S. pharmacy chain, reported a better-than-expected jump in December comparable store sales, helped by the month containing one more Wednesday and one fewer Sunday than a year ago and higher sales of flu medicine. Walgreen, which gets more than 60 percent of its revenue from prescription drug sales, also sells non-prescription...
Dec 23- U.S. drugstore chain operator Walgreen Co reported a better-than-expected quarterly profit, helped by a record number of prescriptions filled, sending its shares up 3.6 percent. The combined cost savings for Walgreen and Alliance Boots in the quarter were about $140 million. Net income attributable to Walgreen rose 16 percent to $809 million, or 85...