NEWPORT, Ky. — A century-old pharmacy in Newport, Kentucky, has become the latest independent drugstore to close its doors.
It is the latest in a troubling nationwide trend that's leaving communities with fewer local pharmacies.
The Newport Drug Center announced on Facebook that it and its sister store, Avenue Pharmacy, in Dayton, Kentucky, will close on May 5.
"It's not a fun time," one employee said to a customer renewing a prescription.
The good news for customers is that all prescriptions are being transferred to the nearby Kroger at Newport Pavilion shopping center, ensuring customers won't miss their next renewal.
Why are so many pharmacies shutting down
But for many in the community, this closure represents more than a change in where they'll pick up medications. It's the loss of another neighborhood business with a personal touch.
"Everybody's sad. All the customers are telling us how they are going to miss us, how they love it here," co-owner Randy Lange said.
Lange says he's been squeezed out by insurance companies and pharmacy benefits managers (PBMs) to the point where he can no longer afford to keep going.
"We are out of control of our own pricing. They can lower it down to whatever they want, and in the last year, they lowered it down below actual cost," Lange said.
This reflects a national trend, with thousands of pharmacies nationwide saying they've been forced to close because it's become too difficult to make a profit.
Watch as the owner and customers of Newport Drug Center lament its closing
Are there any possible solutions to save drugstores?
Kris Krese of the National Association of Chain Drug Stores says pharmacy benefit managers—essentially middlemen who are supposed to lower consumer costs—are charging pharmacies increasingly higher fees.
"When you look at the PBMs, their profits, or I should say their revenues, have doubled for the past two decades," Krese said.
A proposed bill in Congress, "The Pharmacy Benefit Manager Transparency Act of 2025," has bipartisan support and aims to regulate PBMs and help small drug stores.
The legislation would require PBMs to report regularly to the Federal Trade Commission.
For Newport Drug Center, any legislative help would come too late, frustrating longtime customers like Bev Holiday.
"It's very sad because we value our Newport businesses; they mean so much to us, and it was a sad note yesterday when we heard that," Holiday said.
Consumers who want to help can support their local independent pharmacies if they still have one in their area.
___________________________
This story was reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Follow John:
- Facebook:John Matarese Money
- Instagram: @johnmataresemoney
- X/Twitter: @JohnMatarese
Follow Taylor:
- Facebook: Taylor Nimmo
- Instagram:@tnimms
- X/Twitter: @tnimms
For more consumer news and money saving advice, go to www.dontwasteyourmoney.com
