Generic drug sales help Rite Aid to surprise profit

By Maria Ajit Thomas (Reuters) – Rite Aid Corp, the No. 3 drugstore chain in the United States, reported a surprise quarterly profit after generic drug sales boosted margins, sending its shares up by a fifth to their highest in more than five years. Like rivals Walgreen Co and CVS Caremark Corp, Rite Aid has benefited in the last year from a new wave of generic drugs that have replaced more costly blockbusters. The company’s latest quarterly profit was its fourth in a row. …