Becker's Healthcare November 13, 2024
As retail pharmacy giants such as CVS, Walgreens and Rite Aid close stores across the U.S., the consequences for patient care and the impact on the pharmacy industry are becoming more apparent.
In August, Walgreens announced plans to close around 1,200 stores over the next three years, including 500 in the 2025 fiscal year. Despite a 6% increase in sales in 2024, the company has faced significant financial setbacks, reporting a net loss of $8.6 billion, a sharp contrast to the previous year’s $180 million loss.
The trend of pharmacy closures is not isolated to Walgreens. In the last year, Rite Aid filed for bankruptcy and shut down about 500 stores, while CVS is in the process of...
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