Elmwood Pharmacy Closes its Drug Store

- one of only a handful of independently-owned drug stores in the Malden area – will no longer fill prescriptions after nearly 80 years of business, the owner's family confirmed Thursday.

The old school drug store, which includes a lunch counter and convenience store, will continue to operate without filling prescriptions, owner Sam Heitein said.

The family hopes to expand on these still-profitable services with some new renovations over the next several months.

Heitein said that insurance reimbursements failed to cover the pharmacy's operating costs, and that it's expenses were starting to leach off of the store's other, more profitable ventures.

The store, located a block from the Malden Center T-Stop, first opened in 1932.

Massachusetts Independent Pharmacists Association Executive Director Todd Brown said grappling with insurance reimbursements is a frequent “struggle” for smaller drug stores.

“I would say that, most of the time, pharmacies should be reimbursed for more than their costs, but there are certain times when...the drug price changes, and the insurance company doesn't change (their reimbursement) immediately,” he said. “In those cases, the pharmacy can get reimbursed for below their costs.”

“If the insurance companies don't keep on top of it, it decreases reimbursement for the pharmacies,” he concluded.

Those with prescriptions on file at Elmwood can go to CVS for their medication, a mailer sent to customers read.