Greater Nashua
Amid rising drug costs, Medicine World fights to remain independent
NASHUA - When Robert Lolley opened Medicine World Pharmacy in 1982, there were 26 other independent pharmacies in the city -- 44 years later, Medicine World is the only one left. As the cost of prescription drugs continues to climb, Lolley is doing everything he can to avoid being bought out by drug store giants like CVS and Walgreens or even worse, being forced to close his doors. During his April 6 meeting with U.S. Maggie Hassan (D-NH), Lolley said his business continues to be plagued by spread pricing. According to the National Community Pharmacists Association, “spread pricing is detrimental to independent pharmacies because pharmacy benefit managers reimburse pharmacies less than the amount they charge health plans, creating a ‘spread’ they keep as profit. This practice often leads to pharmacies being reimbursed below their acquisition cost for medications, severely ...
