GNC isn't the only pharmaceutical company to suffer from recent economic woes; the once-dependable Fred's Pharmacy has been looking a little ill themselves. For seventy years Fred's has served successive generations of Americans, but unless dramatic steps are taken soon, the company will not be there for the generation who comes next.
By May 2018, Fred's was experiencing a steady and constant downturn in sales, having dropped off 4.3% in the prior twelve months, with a net loss to the company of $139m. Instead of shrinking away, Fred's tried to expand by adding another 400 stores to its empire but found itself squeezed out by Walgreens. With nowhere left to turn but its own assets, Fred's sold off specialty pharmacy CVS for $40m, and when that didn't achieve the desired effect, the entire company was put up for sale.