Posted on 08/27/2023 10:12:10 AM PDT by Chad C. Mulligan
Pharmacy giant Rite Aid, which is facing an onslaught of lawsuits over its alleged role in the opioid epidemic, is planning to file for bankruptcy protection, according to a report.
The company's multibillion-dollar debt load and pending legal allegations that it oversupplied prescription painkillers, will be covered under the Chapter 11 filing, The Wall Street Journal reported Friday, citing people familiar with the matter.
A Rite Aid spokesperson told FOX Business that the company does "not comment on rumors and speculation."
The law firm reportedly handling the restructuring, Kirkland & Ellis LLP, did not immediately respond to FOX Business' request for comment.
Rite Aid, one of the nation's largest pharmacy chains with more than 2,2000 locations, is facing numerous lawsuits for allegedly contributing to the opioid crisis that has taken a toll on communities nationwide.
The Department of Justice filed a lawsuit against Rite Aid earlier this year, claiming the company knowingly filled "unlawful prescriptions for controlled substances" in violation of the False Claims Act and Controlled Substances Act. Ticker Security Last Change Change % RAD RITE AID CORP. 0.70 -0.74 -51.05%
Rite Aid has denied allegations that it filled unlawful prescriptions, the Journal reported. A bankruptcy filing would also halt these suits for the time being and provide the company another pathway to resolve them, according to the newspaper.
“They’re taking the fall for the actual people who created the opiod crisis.”
THIS.
Let’s SEE::::
“Doctor” writes prescription
“Doctor” Faxes or e-mails it to pharmacy
Pharmacy fills prescription.
Pharmacy gets sued out of business for doing it’s JOB.
Over the next 5 to 10 years, as more dispensing corporations align to the industry standards we are aligning to, every last scrip will be available to every last doctor in real-time.
Most states and the DEA are happy with daily reporting, but the new ASAP 5.0 standard is being implemented and I expect more and more states will align to real-time reporting (at 5 minute intervals). Oklahoma has already made the switch.
Stop an addict? Thank a computer professional!
(Why yes, I *am* proud of my work. Why do you ask?)
Possible but unlikely. The controls surrounding a pharmacy make Fort Knox look like amateurs.
At a minimum, missing pills at a pharmacy will cause the issuance of a DEA-106 report and then the DEA will send a small army to crawl all over that pharmacy.
Missing non-controlled substances won't get any response from the DEA.
“If a customer presents a valid prescription to a pharmacy, is it not the pharmacy’s job to fill it? “
Unless, of course, that prescription is for Ivermectin. Then they can just refuse to fill it. Walgreens specifically should be sued out of existence for that BS. 😡
Yep. Just left a Rite Aid I saw many empty shelves. Mostly Chinese junk space. It looks like other vendors were keeping their products on the shelves. I have one of those contracts too. Enough already.
I bet cvs or Walgreens buys um up and keeps it open under their name
That’s what I was thinking. If the script says give them 10 pills and they give um 10 pills. Who’s fault is that? I’d say the prescriber.
Talk to your Doctor. There are plenty of prescription-delivery options out there. Not sure where opioids fit, though? Maybe they can’t be delivered? I don’t know.
The VA mails me my (non-opioid) meds so I don’t have to drive an hour to pick them up.
Exactly.
Hey laz then they just go and buy from the street
I recently had a fall and broke six ribs. My provider, KP, refused to give me more than five days of painkillers because they were more afraid of lawsuits than concerned about my inability to sleep or get around much.
“They’re taking the fall for the actual people who created the opiod crisis.”
Yes, and cancer patients will be left to suffer. Who do we blame for that?
‘It’s not the job of the pharmacist to second-guess the doctor.’
that happens more than you think; everyone wants to get on the control the peon train whilr the getting’s good...
Wasn’t Rite Aid bought up by Walgreens? I remember a whole bunch of Rite Aid stores changing the signs to Walgreens several years back.
After selling all those cold-19 tests and shots?
I can’t figure it out. I’ll be stopping by their store this week, and will ask them what’s going on.
ALL drugstores where I am sell liquor, including Rite-Aide.
Fear not Biden’s going to have the cartels handle prescriptions.
Won’t be many businesses left by the time he’s done.
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