Smart Pharmacy lays off most of workforce

Smart Pharmacy, a Jacksonville, Fla.-based compounding pharmacy, is laying off most of its workforce after exhausting all possible restructuring options, according to the Jacksonville Business Journal

The pharmacy said it will lay off 73 of its 125 employees by the end of the year in response to "financial pressures." 

Thirty-nine workers have already been laid off, and another 34 will be let go by the end of the year.

"The company suffered extensive business losses over time and attempted to seek new capital through the sale of assets that would support continued operations," the company reportedly said in a filing with the state. "The company’s efforts to restructure were unsuccessful."

The positions being cut include pharmacists, lab assistants, customer care employees, shipping specialists and account representatives, according to the Jacksonville Business Journal.

The pharmacy was sued by the federal government and state of Florida in June, accused of submitting false claims to Medicare and Tricare. 

Read the full article here

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