The Medicine Shoppe in New London closing after 41 years in business

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New London — The Medicine Shoppe pharmacy at 613 Broad St. will close its doors on Thursday after 41 years in business.

A notice taped to the door informs customers that all patient records will be transferred to the CVS on Bank Street on Thursday, and that all prescriptions not picked up or delivered by the end of the day Wednesday will be reversed and transferred there.

"We want to thank you for your loyalty and support throughout the years and we will miss serving our Medicine Shoppe family," wrote owner Nagy Wassef and manager Gina Wassef, his daughter.

Gina Wassef told The Day on Thursday that the pharmacy business is a hard one to be in right now, with the pharmacy benefit managers and the reimbursement rates from insurance companies.

"It's been very difficult. I've been here since high school," Wassef, who received her Doctor of Pharmacy degree in 2012 and is now 31, said of the decision to close. She added of the customers, "It's very hard to see their faces and see their disappointment."

Wassef said CVS came knocking and her father decided it was time to sell. She noted that CVS is buying the prescriptions but is not buying the actual property.

Nagy Wassef's Medicine Shoppe locations in Old Saybrook and Vernon will remain open. Gina Wassef said The Medicine Shoppe will try to service customers who get multi-dose packaging at its Old Saybrook location, as that's not something CVS offers.

The Medicine Shoppe recently celebrated 40 years in business. Henry Cormier opened the pharmacy in 1978 and sold it to Nagy Wassef in 2005.

e.moser@theday.com

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