Despite rough economy, Pennsylvania pharmacy industry continues to thrive

Pennsylvania’s pharmacy business is strong and continues to grow despite a nationwide economic slowdown, an American Pharmacy News analysis of state records show.

Both the number of pharmacies and pharmacists grew over the past five years, according to the records.

The number of pharmacists increased 8.2 percent from 2010 to 2014 — from 21,854 to 23,660. The numbers were gleaned from the Pennsylvania State Board of Pharmacy, Bureau of Professional and Occupational Affairs.

Also, the number of pharmacies similarly increased 3.8 percent — from 3,365 to 3,492.

In addition, Pennsylvania is home to three of the largest pharmacy chains in the United States, including the fourth largest, Rite Aid Corporation, with 4,531 stores and 8,768 pharmacists; the 17th largest Giant Eagle Pharmacy, with 211 stores and 602 pharmacists and Ahold Financial Services, with 250 stores and 515 pharmacies, according to the California-based health care research firm SK&A.

Overall, the Keystone State has the fifth most pharmacies in the country while boasting of the nation’s sixth largest population.

U.S. Department of Labor statistics show that the average salary for a Pennsylvania pharmacist is $110,360, the average salary for a pharmacy technician $29,510 and $24,070 for a pharmacy aide.

State records showed similar pharmacy business vibrancy in New York and Iowa according to other American Pharmacy News examinations.