Health
Rite Aid Wins $200 Million Dispute Over Elixir Sale to MedImpact
- Judge said pharmacy isn’t responsible for extra Elixir costs
- Decision is a boost to Rite Aid as it seeks to exit Chapter 11
A Rite Aid store in New York.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Rite Aid Corp. isn’t responsible for more than $200 million in extra costs tied to the recent acquisition of its pharmacy benefit manager Elixir by MedImpact Healthcare Systems Inc., a judge ruled Monday
Judge Michael Kaplan said during a hearing in New Jersey bankruptcy court that the underlying Elixir sale agreement makes MedImpact responsible for the disputed liabilities, which include millions of dollars in unpaid reimbursements owed to CVS Health Corp., Walgreens Boots Alliance Inc. and Walmart Inc.