Kennedy recently announced a major study into the cause of autism and told an April 10 Cabinet meeting: “By September we will know what has caused the autism epidemic and we’ll be able to eliminate those exposures.” But last week, he softened that to having ”some of the answers by September.”
CVS said in 2021 that it planned to close 900 stores over three years; more than 600 already have shuttered. Rite Aid is expected to close hundreds as it works throughAcross the U.S., more than 7,000 pharmacies have closed since 2019, according to data from University of Pittsburgh researcher Lucas Berenbrok, who considers that estimate conservative. Of those pharmacies, 54% were independent drugstores, an AP analysis of Berenbrok’s data found.
“I think what (drugstores) have realized in the past couple years is that they are a little thinly spread out,” said Keonhee Kim, an analyst at the research firm Morningstar.Prakash Patel, owner and pharmacist, foreground, works at Bert’s Pharmacy in Elizabeth, N.J. (AP Photo/Shelby Lum)Prakash Patel, owner and pharmacist, foreground, works at Bert’s Pharmacy in Elizabeth, N.J. (AP Photo/Shelby Lum)
Blame the closings on problems like sliding revenue and rising expenses. For years, the reimbursement that drugstores receive for filling most prescriptions has shrunk while things like utilities and employee pay continue to climb., and Walgreens has cited it as one of the many reasons it closes stores. Drugstores often carry small, pricey items like beauty supplies, batteries and baby formula that are easy to steal and resell, said Burt Flickinger III, managing director of the retail consulting firm Strategic Resource Group.
It can take new pharmacy locations as many as three years to build a customer base and break even, said Jeff Jonas, a portfolio manager at Gabelli Funds who follows the industry. That’s tough when customers also are less reliant on drugstores now than in decades past.
He said shoppers buy more things online or during bigger trips to Costco or Walmart, and discount stores look even more attractive when inflation pushes up prices.Brazil brought the case to the World Trade Organization.
Follow AP’s coverage of Latin America and the Caribbean atANCHORAGE, Alaska (AP) — An iconic reindeer so beloved that he has been in parades, featured on reality TV shows and visited by schoolchildren on field trips in
is fighting for his life after mysteriously falling ill after someone tampered with his pen.Ever since, 8-year-old Star has had pneumonia, digestion issues and rapid weight loss. Star’s owner, Albert Whitehead, has taken him to a veterinarian every other day to receive care and in hopes of finding a cause for the issues.