McKesson And Rite Aid Extend Distribution Agreement Through March 2019

(RTTNews) - McKesson Corp. (MCK) and Rite Aid Corp.(RAD) signed an expanded distribution agreement to include both brand and generic pharmaceuticals. McKesson said that the new five-year agreement, which extends through March 2019, creates efficiencies for both companies by leveraging the strength of Rite Aid as one of the leading national drugstore chains in the United States, and McKesson as a leader in pharmaceutical sourcing and supply chain management.

As part of the expanded agreement, McKesson will assume responsibility for the sourcing and distribution of generic pharmaceuticals for Rite Aid as part of the proprietary McKesson One Stop Generics program. Rite Aid stores will benefit from the full value of McKesson's daily direct-to-store delivery service model for brand and generic pharmaceutical products.