CVS – Todd’s Pharmacy sells four locations to CVS, will close sites next month | Local News
Todd’s Pharmacy, an institution in Elizabeth City for more than five decades and more recently in surrounding counties, will be closing its doors next month.
Todd’s Pharmacy has sold both of its locations in Elizabeth City as well as its pharmacies in Camden and Moyock to CVS Health. Todd’s Pharmacy in Gates County will not be sold to CVS.
Todd’s principal owner William Owens said Monday he and his partners decided to sell the four locations because it is becoming harder and harder to compete with the large retail pharmacies like CVS, Walgreens and Walmart.
“Community retail pharmacy has changed a lot over the last 10 years,” Owens said. “The long-term trajectory is not in a good way and a decision was made. In a perfect world the initial plan was to continue to run everything with my junior partners but that doesn’t look to be an option. Every year, it gets a little bit harder. This is as good a time to make this change as we could for everyone involved.”
Owens said the four Todd’s locations will close between Aug. 10 and Aug. 12 and that employees were notified over the weekend. Owens said eight pharmacists and the “equivalent” of 40 full-time positions will be affected by the closings.
Prescriptions for Todd’s Elizabeth City and Camden customers will be transferred to the CVS pharmacy on Ehringhaus Street in Elizabeth City on Aug. 10. Todd’s Currituck customers will have their prescriptions moved on the same day to the CVS location at 233 Carmichael Way in Chesapeake, Virginia.
A notice posted on a window by the front door of the Moyock location and dated July 10 states that all prescription files are all being purchased by CVS.
Rhode Island-based CVS operates almost 10,000 pharmacies in all 50 states and its website states that 76 percent of the U.S. population lives with five miles of one of its pharmacies.
Todd’s first opened its doors in the city in 1956 and it moved to its current downtown location at 207 South Poindexter Street in 1982. Todd’s North Road Street location opened in 1991. The Moyock location on Caratoke Highway opened in 2001 and the Camden pharmacy near the county courthouse opened in 2017.