The chief executive of Rite Aid said the drugstore chain's pharmacy benefits manager is one of its top assets with high growth potential, according to Forbes contributor Bruce Japsen.
Rite Aid CEO Heyward Donigan made the comments during the company's third quarter earnings call. The company's EnvisionRxOptions PBM is poised to see major growth in its Medicare Part D enrollment, which will climb by 140,000 to 840,000 beginning Jan. 1.
"EnvisionRxOptions is one of our most important assets and we're bullish on its growth potential," Mr. Donigan said, according to Forbes.
Rite Aid's PBM growth mirrors current industry trends, as Express Scripts links up with Prime Therapeutics, Anthem continues to roll out its own PBM, and UnitedHealth Group expands its OptumRx line. The success in Rite Aid's PBM could make it a potential acquisition target, according to the report.