A long time Downtown Indiana Drug Store will be closing its doors for good on June 29th.
Gatti Pharmacy has announced that they will end business at their location on Philadelphia Street on the 29th and all prescriptions are being moved to the Rite Aid Pharmacy on Philadelphia Street effective Tuesday, June 30th. Gatti’s president, Stephanie Smith Cooney stressed that the closure is not due to lack of local support, innovations caring or coronavirus, but it is due to the business practices of Pharmacy Benefit Managers, better known as PBM’s. She said that the PBM controls the pharmacy benefit portion of a person’s insurance coverage, and then individually contract with pharmacies to determine the payment rates. Cooney added that those contracts are not negotiable.
Gatti Pharmacy was started in 1936 by Louis Gatti and has been a fixture in the Downtown Indiana area since then. Cooney bought the business in 2010. Gatti has had three locations in Downtown Indiana: The current location in the 1000 block of Philadelphia Street, the corner of 7th and Philadelphia Street and at the corner of 9th and Philadelphia Streets, which is the current home of your hometown radio stations.
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