December 17, 2015 / 12:10 PM / 2 years ago

Rite Aid profit drops 43 pct, hurt by EnvisionRx expenses

Dec 17 (Reuters) - Drugstore operator Rite Aid Corp, which has agreed to be bought by larger rival Walgreens Boots Alliance Inc, reported a 43 percent drop in quarterly profit, hurt by expenses related to its acquisition of pharmacy benefit manager EnvisionRx.

The company's net income fell to $59.5 million, or 6 cents per share, in the third quarter ended Nov. 28, from $104.8 million, or 10 cents per share, a year earlier.

Revenue rose about 22 percent to $8.15 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)

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