Independent pharmacies are closing at alarming rates across Indiana and the U.S., and owners say Pharmacy Benefit Managers, or PBMs, are to blame. Small, independent pharmacies warn that without operations like theirs, some towns would become “pharmacy deserts,” leaving vulnerable residents without access to care.
Pharmacies statewide have dropped from 1,354 in late 2024 to 1,328 by mid-2025. Many independents say PBMs reimburse below the cost of medicine, forcing them to sell prescriptions at a loss. “You can’t survive when you’re losing money on 40% of what you dispense,” said Darren Covington of the Indiana Pharmacy Association.
Some pharmacies have added packaging, medical equipment, and consultations to survive. But Angelotti says community support is the key: “We’ll be here as long as this community keeps us.”