
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, July 15, 1993                   TAG: 9307150184
SECTION: CURRENT                    PAGE: NRV-8   EDITION: NEW RIVER VALLEY 
SOURCE: RICK LINDQUIST STAFF WRITER
DATELINE: CHRISTIANSBURG                                LENGTH: Short

SCOTTIE PHARMACY SELLS TO REVCO

The independent, locally operated Scottie Pharmacy will become part of the Revco Drug Store chain Monday. News of the acquisition came Wednesday from Revco, which is based in Twinsburg, Ohio, and runs 1,190 discount drug stores in Virginia and eight other Eastern states.

The chain already has two other Christiansburg stores, and pharmacies in Pulaski, Blacksburg and Radford.

Scottie Pharmacy's owner, Christiansburg native and pharmacist Pete Tolley, opened the original store in 1972. He now lives in Franklin, Tenn., and cited competitive pressures from chains - like Revco - as a reason for his decision to sell.

Allen Butterfield, who runs Thompson-Hagan Drug Co. - the town's remaining independent pharmacy - on Franklin Street, said Tolley made the right choice. "Pete got out at the right time," he said.

Butterfield, a 1967 classmate of Tolley's at Medical College of Virginia School of Pharmacy, said the pharmacy business "has problems" against competition from chains and mail-order firms and dwindling reimbursements from third-party prescription programs.

Pharmacist Ward Grayson and his staff will remain at the new Revco store. Grayson has been with the pharmacy for more than 20 years.

Kathy Mantz, Christiansburg-Montgomery County Chamber of Commerce executive director, didn't expect the buyout to change things too much. "There won't be much of a detriment because the same people will continue to supply the same friendly service," she said.

Revco gave no purchase price. The company lists annual sales of $2.2 billion.

by CNB