Through these efforts, Elixir would be able to deliver high value services at a much lower price than its competitors Walgreens and CVS.īy using Elixir for white label PBM services, RAD appears to be on track to further grow its business and secure a significant share in this highly competitive market. Following through on this target, RAD has several strong network contracts and a new rebate aggregator. With this in mind, Elixir could be pivotal for RAD’s future prospects as it has the potential to become a leader in the PBM market since it lowers healthcare costs through consumer engagement. Through Elixir, RAD has a market opportunity of more than 2 million covered lives – including 700 thousand from its Medicare Part D insurance offerings. At the same time, Elixir provides drug benefits under the Medicare Part D program and insurance offerings. Its other segment is Pharmacy Services which RAD uses to offer a suite of pharmacy benefit management (PBM) services like technology solutions, network and rebate administration, as well as pharmacy discount programs through Elixir. The first segment is Retail Pharmacy where RAD sells prescription drugs and provides other pharmacy services. Operating a retail drugstore chain across the US, RAD operates through two segments allowing it to compete with giants like Walgreens and CVS. While it remains to be seen if a short squeeze materializes, investors are bullish on RAD stock and its new found popularity. With this in mind, RAD stock is emerging as one of the hottest Reddit plays due to its potential short squeeze. After reporting its Q1 financials, RAD stock witnessed increased momentum leading the stock to climb 34%. Rite Aid Corporation (NYSE: RAD) is emerging as a competitor in the pharma retail sector by offering healthcare services and retail products to more than 1 million customers daily across 17 states.
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