Opening stores used to mean everything to pharmacy chains.
CVS Health once boasted of opening or buying more than 2,900 locations in a five-year period. Now it’s shuttering hundreds, while Walgreens, Rite Aid and independent drugstores also pull back.
An industry that saw waves of store growth before the COVID-19 pandemic faces headwinds like falling prescription reimbursement, persistent theft and changing shopping habits. But as drugstores right-size their physical footprint, experts say they can leave behind communities that have come to depend on them as trusted sources of care and advice — both of which can be hard to find in many urban and rural areas.
“That trust, you just can’t quantify it,” said Omolola Adepoju, a University of Houston health services researcher. “And I don’t think it gets spoken about enough when we talk about pharmacy closures.”
