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We have been specialising in community pharmacy sector for over 30 years and have helped many pharmacists acquire their first pharmacy. We have seen several of those first-time buyers transition into multiple pharmacy owners under our specialist guidance and support through the years. Acquiring the first pharmacy can be a challenge to most pharmacists especially when they do not have the necessary skill in reading the numbers presented in terms of the target pharmacy's performance and how to interpret these in order to arrive at a valuation for the purpose of submitting an offer. Without the guidance of a specialist accountant in community pharmacy, one of the major risks is that one could end up paying more than what the pharmacy is worth. Once the offer is accepted, there are other challenges to overcome to get the deal over the line. 1) Assessing the risk 2) Valuation of the business 3) The negotiation process 4) Asset or company purchase 5) Financial due diligence 6) Asset/share purchase agreement 7) Finance the purchase

RP Healthcare, a multi-operator, has sold Hammersmith pharmacy in West London to an independent pharmacist for an undisclosed amount. "Mariam Moshref, owner of Fulham Pharmacy, together with her twin brothers, Arya and Jaan Moshref, purchased Hammersmith Pharmacy from Ravi Patel of RP Healthcare," Christie and Co, who handled the sale, said in a statement. This pharmacy operates during standard hours, handling an average of 5,920 items per month, the statement added. Refurbished in 2018, the pharmacy is located on Fulham Palace Road, W6, near Charing Cross Hospital and Hammersmith Underground station. RP Healthcare placed the pharmacy on the market as a strategic move to divest from the area.

Well Pharmacy has announced a new partnership with RangeMe, a product discovery, sourcing and purchasing platform, as it looks to increase the diversity of products available to its customers. The independent pharmacy chain said the partnership will provide new, emerging and diverse brands increased access to its buying teams. There are already over 200,000 suppliers registered on the RangeMe platform. "We pride ourselves on being at the heart of the communities we serve and are delighted to be working with RangeMe to increase the diversity of the products we are able to offer to our customers across the UK," Reena Takhar, head of OTC & NHS buying at Well Pharmacy said. "Given the ongoing cost-of-living crisis, we're keen to do all we can to give businesses of all sizes the opportunity to connect with our buyersto allow us to offer new and interesting great value products to our customers." RangeMe helps retailers and their buying teams scale product sourcing efforts with streamlined submissions, simplified discovery tools, and the industry standard digital sell sheet.

Anyone who has studied the finances of an independent pharmacy business knows that money is tight. In many cases, they are perilously close to failure. It's easy to assume they are retail businesses, cashing in on the higher public profile the sector has enjoyed during the pandemic years. But those have been mere words. Certainly, the pandemic represented a halcyon period for the profession. We engendered a feeling of normality, dependable and accessible to society. We played a substantive role in keeping people out of hospitals and giving the vulnerable the ability to live independently from their own homes for longer. We mobilised to smash flu vaccination records and deliver covid jabs. But despite the warm words of a new service based future and the incessant expressions of gratitude contractors desperately need the headroom to prepare, plan and invest. Platitudes, press releases and assurances of a bright clinical future are small comfort to what is needed and that's cash on the table. As the adage goes: "Talk is cheap, money buys houses." Cashflow crisis Since 2016, we have witnessed almost 650 pharmacies fall by the wayside. Some may have merged; the majority, however, have perished due to the relentless need for an increasing cashflow. It is cash, or rather the lack of it, which is killing independent pharmacies.

To support NHS, clear the backlog created by the Covid-19 pandemic and help community pharmacies support more people, the Welsh government has announced an allocation of further £12.5 million funding. Of the total amount, £10mn will be distributed across the 22 local authorities to buy equipment to help people to live independently in their own homes post hospital stay. The remainder, £2.5mn, will be used to support community pharmacists and patients to improve access to treatment and advice for a range of common ailments. The move is aimed at alleviating waiting times and reducing winter pressures on the NHS. Commenting on the announcement, Elen Jones, Royal Pharmaceutical Society director for Wales said: "We are delighted that the Welsh government continue to recognise the value of pharmacists in patient care and we welcome this additional investment and support for Community Pharmacy teams across Wales.

Maxwellia has appointed Ian Adamson as strategic advisor to shape the next phase of pharmacy medicine launches - a process which involves identifying and converting suitable prescription only medicines into versions people can choose to buy under the supervision of a pharmacist. Ian brings over 30 years' international consumer health and personal care experience to the Maxwellia team. He is currently an advisor to the board of the UK independent pharmacy chain Day Lewis plc, an advisor to the board of Spanish healthcare company ReVa Europe S.L and board advisor to East Midlands Pharmaceuticals Ltd. Prior to this Ian was Chief Commercial Officer and a main board director at SSL International plc (prior to its sale to Reckitt Benckiser) with responsibility for a $1bn portfolio of brands, which included Durex and Scholl. Ian's appointment follows the landmark reclassification of the progestogen only pill by the MHRA, a change spearheaded by Maxwellia, and the company's subsequent launch of its first product Lovima in July 2021; and the current MHRA public consultation on the reclassification of Maxwellia's new pharmacy brand, Aquiette 2.5mg Tablets (Oxybutynin Hydrochloride) for the treatment of overactive bladder symptoms which are not adequately controlled by bladder training alone.

Restricting sales of vape products to pharmacies is not a solution to curb illegal sales of vape among underage adults, said UK Vaping Industry Association (UKVIA). In an oral evidence at the House of Commons on 'Youth Vaping' called by the Health and Social Care Select Committee (HSSC) to figure out action needed to reduce vaping among those under 18. Rachael Maskell, York Central MP's suggested on vape products being available from licensed pharmacies. Marcus Saxton, Chairman, Independent British Vape Trade Association (IBVTA) said: "We are calling for further regulation to tighten up what has now been an extreme growth in single-use products. If you put them into those environments, as New Zealand and Australia are telling us, the perception of the public is that, while they can buy tobacco freely anywhere, the vaping product that is up to 95% safer is licensed through a pharmacy. It makes absolutely no sense. The negative consequence of considering such a thing will take us backwards years."