Among the reasons for store closures are rising drug prices, lower staff enrollment, and historic opioid lawsuits, which have impacted each company’s financial standing. Brandon Newman, CEO of data analysis company Xevant, told Newsweek: “First and foremost, rising drug costs are a central concern. As prices escalate, both pharmacies and patients are increasingly burdened. This not only affects pharmacies’ ability to manage inventory efficiently but also places a significant financial strain on patients. The impact on the business health of pharmacies is undeniable.”
