Welcome to a special episode of CPhT Connect, the podcast for Pharmacy Technicians! Join hosts Mike Johnston and Ashleigh Smith as they kick off part one of the Top 10 Pharmacy Stories of 2024. This engaging episode explores the major headlines, trends, and controversies shaping the pharmacy world this year.
Top 10 Pharmacy Stories of 2024 (Part 1) 10. Pharmacists Gain Expanded Prescriptive Authority
All 50 states and DC now allow pharmacists to prescribe medications such as birth control, smoking cessation aids, and vaccines. The hosts discuss the benefits for patient care and the challenges posed to already overworked pharmacists, especially in retail settings. Concerns about corporate misuse and competition with doctors are also raised.
9. Technological Advancements in Pharmacy
AI and machine learning are revolutionizing pharmacy roles, with applications in inventory management and error prevention. While some fear job replacement, the hosts highlight AI’s potential to enhance rather than replace pharmacy functions. However, skepticism remains about retail chains prioritizing metrics over practical solutions.
8. The GLP-1 Medication Craze
Drugs like Ozempic and Wegovy have gained immense popularity, contributing to the first decline in U.S. obesity rates in a decade. The conversation touches on high costs, shortages, and their controversial use as a weight-loss trend.
7. Formation of the Pharmacy Guild
Shane Jeromsky, Maurice Shaw, and Bled Tenoi lead efforts to unionize retail pharmacies, targeting CVS and Walgreens locations, including CVS’s corporate headquarters. The strategic moves, challenges of location-based petitions, and long-term implications are discussed.
6. Chain Pharmacies’ Stock Market Decline and Leadership Changes
Both Walgreens and CVS have faced significant stock market losses and CEO turnovers this year. Walgreens’ valuation plummeted from $50 billion to $7.5 billion, while CVS stocks dropped 25% this month. Concerns grow over Walgreens potentially going private under a private equity firm, raising fears of worsened working conditions for employees.