Lutz Pharmacy sold to Minnesota-based drug company

Lutz Pharmacy and Professional Compounding in Altoona announced today that they have sold the business to Austin, Minn.-based Astrup Drug, Inc.

Gene and Susan Lutz have operated the pharmacy, located at 120 8th Street SE, since 1974.

In the early 1980s the Lutzes began serving long term care facilities and the needs of their patients. In 2007 they added a second pharmacy (Lutz Long Term Care Pharmacy) to focus on the long-term care side of their business.

In a news release, the owners said they expect to continue to do some pharmacy-related work and plan to volunteer for some medical mission work and continue their involvement in national and international pharmacy organizations.

The Lutzes said they wanted to find a buyer that would not close the business, since its common for national chains to buy out the prescription list and close the pharmacy.

Lutz Pharmacy will become Astrups 13th location in Iowa and Minnesota.

The acquisition of Lutz Pharmacy and Professional Compounding and Lutz Long Term Care expands our ability to serve long term care facilities and provides us with an opportunity to add a more robust compounding practice, said Tim Gallagher, COO at Astrup Drug, Inc.

Lutz Employees have been notified of the change and know the intention of Astrup is to maintain current staffing.

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Lutz Pharmacy sold to Minnesota-based drug company