Rite Aid, drugstore.com Restructure Partnership

Rite Aid, drugstore.com Restructure Partnership
September 09, 2008

Bellevue, Wash.-based drugstore.com inc. and Camp Hill, Pa.-based Rite Aid Corp. announced a restructured strategic relationship that includes the launch of a new Rite Aid online store for over-the counter (OTC) products and expands on the two companies' long-term relationship. Under the terms of the agreement, a new Rite Aid online OTC store offering a wide selection of products, including Rite Aid brand items, will be powered by drugstore.com and marketed by Rite Aid to its large customer base. Rite Aid's new online store is expected to launch later this year. As part of the new agreement, the LPU rights (prescriptions ordered online for pick up at a Rite Aid store) will be transferred to Rite Aid. In return, drugstore.com will receive a total of approximately $10 million in 10 monthly installments from Rite Aid. Going forward, drugstore.com will receive marketing services revenue for marketing Rite Aid's LPU offering on the drugstore.com site.

Produced by: Nielsen Business Media, a part of the Nielsen Company
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