Rite Aid Corporation is a retail pharmacy chain in the United States. The company has over 2,500 stores across the country. Rite Aid was founded in 1962 and is headquartered in Camp Hill, Pennsylvania.
The company has been in trouble for a long time. Rite Aid has been accused of using unfair business practices, making illegal payments to doctors, and engaging in other illegal activities.
The company’s problems began to mount in 2012. That year, the company was fined $27 million by the Federal Trade Commission for “deceptive marketing practices.
” The FTC also accused Rite Aid of making illegal payments to doctors to induce them to prescribe drugs. That year, the company also announced that it would be selling its Canadian operations.
In 2013, Rite Aid was fined $9 million by the state of New York for “paying illegal bribes to doctors.” That year, the company also announced that it would be selling its Canadian operations.
In 2014, Rite Aid was fined $172 million by the US Department of Justice for “violations of the Foreign Corrupt Practices Act.”
In 2015, Rite Aid was fined $203 million by the US Department of Justice for “violations of the Foreign Corrupt Practices Act.”
In 2016, Rite Aid was fined $247 million by the US Department of Justice for “violations of the Foreign Corrupt Practices Act.”
In 2017, Rite Aid was fined $3 million by the Federal Trade Commission for “deceptive marketing practices.”
In 2018, Rite Aid was fined $1.9 million by the Federal Trade Commission for “deceptive marketing practices.”
The company’s problems have not stopped there. In March of this year, the company announced that it would be selling its Canadian operations.
All in all, Rite Aid has been fined a total of $4.8 billion for its various violations. The company has also been accused of engaging in other illegal activities, such as making illegal payments to doctors. As a result of all of these problems, Rite Aid has lost a lot of business.
In 2018, the company’s revenue was $24.5 billion, but its net income was only $1.2 billion. In other words, Rite Aid is losing a lot of money, and it seems unlikely that the company will be able to turn things around.
