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Prescription Drug

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Drugstore Deserts On Rise Amid Nationwide Pharmacy Closures Drugstore Deserts On Rise Amid Nationwide Pharmacy Closures
Drugstore Deserts On Rise Amid Nationwide Pharmacy Closures Nearly 30 percent of US pharmacies closed between 2010 and 2021, according to a new study in the health-policy publication Health Affairs. The research, led by University of California Berkeley assistant professor Jenny S. Guadamuz and colleagues, analyzed data from the National Council for Prescription Drug Programs, county health statistics, and ZIP Code demographic surveys.  Of the 88,930 retail pharmacies operating in 2010, almost one-third shuttered by 2021, with those in predominantly Black and Latino neighborhoods disproportionately affected, Independent pharmacies were hit ha…

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by Joe Lombardi
Business
Walgreens To Close 1,200 Stores Walgreens To Close 1,200 Stores
Walgreens To Close 1,200 Stores Walgreens plans to close about 1,200 stores over three years amid a decline in prescription drug payments and a rise in online competition. About 500 closures will come in 2025, the company announced in a statement released Tuesday morning, Oct. 15. Specific sites for store closures were not announced. Walgreens said its operating loss in fiscal 2024 was $14.1 billion, an increase of 104.5 percent compared to the year-ago period. Retail sales decreased 3.5 percent compared with the year-ago quarter, "reflecting a challenging retail environment and continued channel shift," Walgreens s…

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by Joe Lombardi