Kroger to sell specialty pharmacy business to CarelonRx, terms not disclosed

The Kroger Co. (KR) announced that it has entered into a definitive agreement for the sale of its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health (ELV). Kroger Specialty Pharmacy is separate from other Kroger Family of Pharmacies, including in-store retail pharmacies and The Little Clinics, and therefore in-store retail pharmacies and The Little Clinics are not included in this transaction. This transaction is subject to customary closing conditions, including regulatory approvals and is expected to close in the second half of 2024; it is not expected to have an impact on Kroger’s 2024 guidance.