NEW YORK (TheStreet) -- Shares of Rite Aid (RAD) - Get Report were higher in late morning trading on Tuesday as the Camp Hill, PA-based drugstore chain said today it's expanding its naloxone dispending program.
Naloxone is an emergency medication used to reverse the effects of an opioid overdose. It's administered via an injection or nasal spray.
The treatment is now available over the counter at Rite Aid locations in 17 states, while previously it was only available with a doctor's prescription, the company said in a statement.
Approximately 78 people die from an opioid overdose every day, according to the CDC.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Rite Aid as a Hold with a ratings score of C. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and solid stock price performance. However, as a counter to these strengths, it also finds weaknesses including deteriorating net income, generally higher debt management risk and poor profit margins.