Iconic US Pharmacy Shuts Down After More Than 130 Years in Business
Image for representation | Image credit: Reuters
Cynthia Porter, Goltz marketing manager, further elaborated on this development and said their customer base were given a choice to transfer their prescriptions to another provider like CVS or a mail-order service.
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Winona-based Goltz Pharmacy, after being operational for more than 130 years, finally closed its doors last week as it was sold to US’ second-largest pharmacy store chain, Walgreens.
All of a sudden, the 10 to 11 employees who worked for Goltz for years were shocked as for most part through years, the pharmacy store was performing well. They were even building toward the future expansions such as extending the building’s exterior and hiring additional staff to reinforce that claim.
According to the Winona Daily report, one of the reasons for the closure of the over a century old pharmacy comes down to certain Part D of insurance plans, informing their loyal clients that they could no longer be able purchase their prescription drugs at the pharmacy at a reasonable rate.
Cynthia Porter, Goltz marketing manager, further elaborated on this development and said their customer base were given a choice to transfer their prescriptions to another provider like CVS or a mail-order service. The deal also leaves the customers who, if declined either of those options, ran the risk of dealing with a high co-pay service.
The new acquisition is not new as it is a trend that is happening across the country, which means Goltz is just another victim of a changing business landscape in the pharmaceutical segment. With the likes of Goltz’s autonomy gone, many customers were compelled to transfer their prescriptions.
“They told them they could no longer get their prescriptions filled at (certain) pharmacies and get their prescriptions for free,” Porter said, adding, “It’s not even a real fair proposition to say, ‘Yep, we know you’re loyal to Goltz, but you’re going to have to pay an extra $15 or $20 or $25 just to get your prescriptions here’.”
Pointing out further, Porter said, Goltz went through something similar. Even though on a small scale, one insurance company took a percentage of their clients, which according to Porter, it is close to 12-15 percent. “These insurance companies in the interest of enhancing their profits, are just kind of removing choices from their clients and customers,” Porter added.
Former owner Dan Goltz, along with his brother Paul, sold the pharmacy back in 2016. Dan remained on as manager unit 2018 and expressed disappointment about the sudden closure. Though disappointed with the recent closure, he said he was aware of the challenging business environment that many pharmacies are facing across the United States.