Drugstore Closures and Challenges in the Pharmacy Industry

Drugstore closures in the US are raising concerns about limited access to medications, particularly for vulnerable populations, with major chains like CVS, Walgreens, and Rite Aid closing or announcing plans to close numerous locations. Job walkouts have been organized to raise awareness of the issues and push for concessions. CVS Health Corp. reported higher sales and profit in the third quarter, indicating that its cost-cutting strategy is successfully expanding its health-care business. Walgreens is pausing its micro-fulfillment center expansion plan to focus on improving the rollout of the facilities. Retail pharmacies and pharmacists are facing challenges in the industry, with CVS Health planning to close 900 stores over the next three years and Walmart asking some pharmacists to take pay cuts due to shortages of pharmacists and pharmacy technicians.