Walgreens to Purchase Rite Aid for $9.4 Billion

Well, it looks like another mega-merger is in the works these days between two of the country's biggest pharmacy chains.

According to the New York Times, Walgreens Boots Alliance has agreed to buy Rite Aid for more than $9 billion, making it an even larger pharmacy conglomerate. This will help their relationships with drug companies as well as pharmacy benefit managers.

The merger deal is the latest taking place as a result of many changes under the Affordable Care Act, which in return has made drug makers, insurers and more to want to merge.

Recently, Walgreen and UK based company Boots merged, and over time before that, the company had picked up other chains such as NYC's Duane Reade. Buying Rite Aid would give Walgreens an additional 4,600 stores on top of it's current 8,200 locations in total!

Local stores have not shown and signs of the merger as of yet, but time will tell what changes will come to our area locations.