A Rite Aid store is presented in downtown Los Angeles, California, USA, October 16, 2019. The image was taken on October 16, 2019.
Mike Blake | Reuters
Rite Aid CEO Heyward Donigan said retailers are expected to play a bigger role sooner – and sooner – in launching the Covid-19 vaccine, as states and counties are under pressure to speed up the pace.
Vaccines are distributed in stages, with priority given to Americans who are more at risk, such as health care workers and nursing home residents.
Rite Aid is expected to be part of the second phase, when the shots become available to the general public, those who do not qualify for phase one because of their age, occupation or lack of underlying medical conditions, Donigan said, speaking to virtual JP . Morgan Healthcare Conference Monday. The company is one of at least 19 pharmacies and grocery stores that have worked with the U.S. Department of Health and Human Services to take photos at their stores.
“I think this will be accelerated faster and faster than that,” she said.
So far, the pace of Covid vaccines has been slower than expected. The United States has delivered about 22.1 million doses and nearly 6.7 million people have received the first blow since Friday – well beyond the country’s original goal of immunizing at least 20 million people by the end of 2020. .
The launch has been fractured, those who receive priority to receive the vaccine vary greatly from state to state and county to county. In some parts of Florida, demand far outstripped supply and led to long lines and frustration. However, in some vaccination sites in New York State, eligible beneficiaries refused shots or dropped appointments, and Covid vaccines ended up in the trash.
Rite Aid has so far administered more than 5,000 Covid vaccinations and has seen these challenges directly, Donigan said.
“If you open a bottle and get a single person who wants a dose that day, you have to figure out what to do with the rest of the bottle,” she said. “It’s extremely complicated to figure out how to find the right people, the most vulnerable, at that time, that day, without getting lost.”
CVS Health and Walgreens, which also plan to manage photos at their stores, are involved in an earlier phase of the launch. Companies began administering vaccines to staff and residents at thousands of nursing homes and assisted living facilities in mid-December. They said they plan to complete the first round of photos in long-term care units by Jan. 25.
Covid vaccinations could give pharmacies a financial boost and allow them to present the changes they have made to their businesses. Not only will they be paid to take photos, but companies could also benefit from more road traffic in their stores – especially as consumers limit travel to the store and fill larger baskets during the pandemic.
Jefferies updated its CVS stock rating to buy on Friday, saying its role in vaccination efforts could yield incremental gross profits of about $ 1 billion over the next 12 months.
Rite Aid has not yet forecast the impact of the vaccine, but COO Jim Peters said it will be included in its forecast for next fiscal year.