Institute Hill Pharmacy closing after 17 years
Institute Hill Pharmacy in Butler announced Wednesday, Jan. 24, it will be closing, with its last day of business scheduled for Feb. 6.
The longtime, independently-owned pharmacy at 937 E. Jefferson St. said in a Facebook post its customers’ files will be moved to Rite Aid’s Main Street location in Butler.
“We ask you to fill your prescriptions with us until the 6th,” the post said. “On the 7th or after, you can go to Rite Aid on Main Street, and they will have all the necessary files and your prescriptions.”
Jonathan Valentino, owner and pharmacist at Institute Hill Pharmacy, said in a previous edition of Butler County Business Matters that insurance companies have undercut the cost of medication and have put the financial burden back on the pharmacy to pay for certain prescriptions.
“(Recently), I filled three prescriptions, and I was $1,200 in the hole because the insurance won’t reimburse what the cost of the drug is,” Valentino said.
Valentino said in previous reports he loses money on between 15% to 20% of the prescriptions he fills, and the only way he is able to keep afloat would be profits from the other 80%.