By Courteny Hager
Ever drive down the street and see a different pharmacy on every corner? Your choices may soon be dwindling. By now, you may already know about the two major mergers between big-name retail pharmacy companies. What you may not know, however, is how these changes are going to affect you as a patient.
In June 2015, CVS Health, the nation’s second-largest retail pharmacy at the time, announced that they would acquire the entirety of Target’s pharmacy business and would ultimately operate these locations under the CVS name. At a price tag of $1.9 billion, this acquisition of almost 1700 new stores has enabled CVS health to surpass Walgreens in becoming the nation’s largest pharmacy chain.
The top ranking won’t last long, however, as Walgreens Boots Alliance (WBA) announced that they themselves would be buying out the third-largest pharmacy chain, Rite Aid, for $17.2 billion. In doing so, WBA will be acquiring over 4,500 stores, pushing the company ahead of CVS with over 12,000 locations nationally. With this acquisition, WBA will be responsible for almost one in every five pharmacies in the nation. [Read more…]