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The Royal Pharmaceutical Society is set to cease all its remaining financial investments in fossil fuels latest by the end of 2022. The decision taken today (November 17) at the RPS Assemble, is part of the organisation's "continued drive to become an environmentally responsible organisation." Calling it a significant move, RPS president Claire Anderson said: "RPS will divest from fossil fuels as soon as possible. "RPS will instruct its investment managers immediately to ensure that we will be completely disinvested by the end of 2022 and hopefully sooner." Environment and human wellbeing have always been a core consideration of RPS investment, however it was not enough to offset the negative impacts of climate change, the organisation said.

An international specialty pharmaceutical group, Essential Pharma has announced the completion of two transactions with fellow UK-based Rosemont Pharmaceuticals. The company completed the divestment of its oral liquid portfolio to Rosemont, and acquired a series of attractive, niche products with "geographic expansion potential." Commenting on the announcement, Essential Pharma chief executive Steen Vangsgaard said: "The Rosemont products bring additional niche products into our portfolio with international expansion potential. "The divestiture of our UK oral liquid products streamlines our portfolio, allowing us to focus and accelerate our strategic growth ambition of building a leading international specialty pharma platform." Under the divestment deal, Rosemont Pharmaceuticals will acquire the product portfolio of licences, registrations and trademarks, as well as related commercial rights, to a number of oral generic products which are used to treat a range of conditions in various therapeutic areas.

The Competition and Markets Authority (CMA) has announced on Tuesday (20 June) that it may consider undertakings offered by Bestway Panacea Holdings, a parent company of Well Pharmacy, which involves divesting seven pharmacy stores under the merger deal with Lexon UK. The Authority said: "CMA considers that there are reasonable grounds for believing that the undertakings offered by Bestway, or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002." Last week, the Authority had announced that the merger of Bestway, and independent pharmacy owner Lexon UK could "lessen the competition between retail pharmacies" in England. On 26th May 2023, CMA announced the launch of its merger inquiry. A fast-track Phase 1 investigation found that the merger could lead to a significant lessening of competition between retail pharmacies in 12 local areas located in Liverpool and North East England. The merging businesses conceded that the deal raises competition concerns in these areas and have submitted proposals to sell pharmacies within these areas to restore the competition that would otherwise be lost as a result of the deal.

Following a period of prolonged uncertainty, the Competition and Markets Authority has given its approval to Bestway Healthcare's acquisition of Lexon UK and Asurex. The company expects the transactions to be finalised in the upcoming months. In April, Bestway, the owner of Well Pharmacy, acquired Asurex Limited and Lexon UK Holdings, along with the 44-community pharmacy chain Norchem Group, known as Knights Pharmacy. However, in June, the CMA raised competition-related concerns about the transaction, citing worries that the acquisition could lead to a significant decrease in competition among retail pharmacies across 12 areas in Liverpool and the northeastern region of England. The CMA had asked undertakings from Bestway Healthcare due to competition concerns affecting specific branches of Knights Pharmacy within the acquisition. In July, the CMA indicated its readiness to approve the deal, contingent upon Bestway's completion of the required divestments. According to Bestway Healthcare, This matter has been successfully resolved, as Bestway Healthcare has consented to the sale of seven pharmacies in Liverpool and the northeastern region of England. "The impacted Well pharmacies are situated in Seaham, Bishop Auckland, Kenton, High Howden, Stockton, Moreton, and Pensby. Buyers for all seven branches have been identified and contracts have been signed."

After a year-long divestment spree, LloydsPharmacy has entered into liquidation and appointed Turpin Barker Armstrong Accountants to handle the process. In its statement of affairs report, the liquidators confirmed that the pharmacy group owes £293m to 514 creditors. This includes £228m owed to the group's former owner Admenta UK and £50m to Aurelius Crocodile - a holding company that was used to control the pharmacy business. However, creditors are set to lose out on approximately £255m as only about £8.2m can be recovered for preferential creditors and £800,000 for its unsecured creditors, the liquidators said. The healthcare chain was acquired by Aurelius when the investment firm took over its parent company, McKesson UK in 2022 for £477m.

Consumer healthcare group Haleon on Thursday announced that it has entered into a binding agreement for the sale of the ChapStick brand to Suave Brands Company, a company owned by American private equity firm Yellow Wood Partners. The British consumer healthcare company has agreed to sell its lip balm brand to Suave for about $430 million in cash and a minority interest in the buyer, valued at around $80 million. Haleon, which was spun off from the GSK Group in July 2022, said that cash proceeds from the sale would be used to pay down debt. ChapStick generated £112 million ($142.5 million) in revenue in 2023, said Haleon, adding that the sale is likely to close in the second quarter of 2024. Brian McNamara, Chief Executive Officer, Haleon, said: "Today's announcement is consistent with Haleon being proactive in managing our portfolio, and being rigorous and disciplined where there are opportunities for divestment. "While ChapStick is a great brand, much loved by consumers around the world, it is not a core focus for Haleon.

Walgreens Boots Alliance, Boots UK's parent company, has appointed Tim Wentforth as its new CEO, effective on 23 October. He joined WBA at a pivotal time when the company plans to downsize the business while driving execution and creating greater value for employees, patients, customers and shareholders. Wentforth replaced Rosalind Brewer, who stepped down on 1 September, after two years at the helm. He joined from Evernorth, Cigna's health services organisation based in Connecticut, where he served as its founding CEO. Prior to Cigna, he also held top roles in companies including specialty pharmacy company Accredo and pharmacy benefit manager Express Scripts.