News from the fight to
#SaveIndependentPharmacy
New York Times The Middlemen series
Why Walgreens And CVS Are Shutting Down Thousands Of Stores
In its fiscal third-quarter report, Walgreens announced its plans to close a ‘significant’ amount of stores, acknowledging only 75% of its 8,600 stores were profitable. While no specific stores were tapped for closure yet, more than 2,000 locations could face the chopping block by 2027. This just the latest sign of trouble for the struggling retail pharmacy sector as CVS and Rite Aid both announced large closures in the past year. Watch the video to learn why U.S. pharmacy chains are fighting for survival.
The biggest Pharmacy Benefit Managers (PBMs) are profiting by systematically underpaying independent drugstores, creating “pharmacy deserts” across the country.
The third in “THE MIDDLEMEN” series of articles by reporters Rebecca Robins and Reed Abelson investigating PBMs .