Walgreens Boosts Alliance (WBA) New Program a Positive Indicator Rite Aid (RAD) Deal to Close - Leerink
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Leerink Partners analyst David Larsen notes Walgreens Boosts Alliance (NASDAQ: WBA) announced a new 90-day adherence program to improve adherence and outcomes among patients with chronic conditions. He sees this as a positive indicator for the Rite Aid (NYSE: RAD) deal close.
Larsen ntoes vailable to EnvisionRx clients, Rx90 gives patients the option to fill 90-day prescriptions at Walgreens pharmacies nationwide for the equivalent price as home delivery through EnvisionPharmacies' mail service. We estimate that this is one of the only PBM programs in existence - other than Maintenance Choice - that prices a 90-day supply of RX at retail, the same as the mail price.
"We believe that WBA and Envision are likely willing to enter into this type of deal because both parties may have high conviction that the WBA/RAD transaction will close," he said.
The firm maintained an Outperform rating and price target of $95 on WBA.
Shares of Walgreens Boosts Alliance closed at $81.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: CIT Group (CIT) Hires Boston Consulting to Review Operations - DJ
- Schneider Electric Refutes Rumors Related to Rockwell Automation (ROK)
- LPL Financial (LPLA) Shares Tick Higher on Speculation
Create E-mail Alert Related CategoriesAnalyst Comments, Mergers and Acquisitions, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!