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Booster shot

24 August 2006 By Antony Currie

And the firm s paying a fair price for Canadian Jean Coutu s US assets. But it s not a cure for all of Rite Aid s ailments. Adding 1,800 new stores polevaults the US pharmacy chain s efforts to expand its footprint against CVS and Walgreens. The US pharmacy chain has struggled to keep up with its larger competitors since its accounting scandal four years ago. The purchase of Canadian rival Jean Coutu s US stores will allow a fast catch up. And Rite Aid s not stretching finances to pay for them.

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