After a recent conversation with Brandon Newman, CEO of XEVANT, I am convinced that there are many ways for drugstores to save at a time when competition is very intense, and operations are very costly.
Brandon, who spoke at PBMI (Pharmacy Benefit Management Institute), pointed to the underlying factors contributing to drugstore closures. They include operating costs that have increased greatly, forcing chains to close many lower-volume stores. We see that problem confronting many industries. However, in the pharmacy/drugstore industry, he also pointed out some unique industry challenges. He noted that drugstore companies may have difficulties securing the best/lowest drug prices since some government regulations require compliance.