WSJ: Walgreen Co. Chief Executive Jeffrey Rein said the U.S. is experiencing the “tightest prescription market” in his 27-year career, as cash-strapped patients skip taking their medication, cut pills in half and avoid doctors’ visits to save money.
Speaking at a Goldman Sachs retail conference Thursday afternoon, Mr. Rein cited a recent report from the National Association of Insurance Commissioners, which said 11% of patients are changing their medication dose in some way, by splitting pills or delaying taking their drugs. The same report said Americans are cutting back doctors’ visits by 25%, Mr. Rein said. He said Walgreen has seen the trend accelerate in the last six or seven months, and that it is happening across the drugstore industry.
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