US drugstores vanish as pressures mount on business model
By Gregory Meyer for Financial Times, December 24 2024
American drugstores are disappearing from street corners, with big chains Walgreens and CVS closing hundreds of locations and independent pharmacies struggling to survive.
The number of pharmacies peaked in the middle of the past decade at about 66,000, according to a study published this month in the journal Health Affairs. There was considerable turmoil in the sector, however: of pharmacies that operated at any point in the previous decade, 29 per cent had closed by 2021, according to Dima Qato, one of the study’s authors.
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