As it navigates Chapter 11 bankruptcy, Rite Aid and its key drug supplier, McKesson, have made peace, at least for now, averting the risk that McKesson would halt drug deliveries to its 2,100 stores as early as this week.
In a fiery adversary lawsuit filed Monday, Philadelphia-based Rite Aid’s legal team at Kirkland & Ellis had accused Irving, Texas-based McKesson of claiming to cancel the supply agreement, a move Rite Aid called a cynical negotiating ploy that used the well-being of its pharmacy customers as a bargaining chip.
