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Well Pharmacy has acquired three new pharmacies taking the total number of pharmacies owned by the chain across the UK to 746. The UK's largest independent and third largest pharmacy chain has bought Pharmacy Express in Wakefield, West Yorkshire, and two Frosts Pharmacy's in Banbury, North Oxfordshire, and Marston, near Oxford. All three pharmacies will be rebranded. # Well did not disclose the amount it paid for the new acquisitions. Operations director of Well Pharmacy Louis Purchase said that the group was "excited" to expand. "We believe passionately in community pharmacy, and we want our offering to be the best experience of this in the UK. We also hope our new colleagues can keep progressing and develop their clinical skills even further by being part of Well Pharmacy." Frosts Pharmacy teams have joined Well from their pharmacies based in Ferriston, Banbury, North Oxfordshire and Marston, near Oxford. They both serve local people from the heart of their communities and offer a successful travel vaccination clinic in Marston.

Well Pharmacy has announced the acquisition of Lexon UK Holdings and Asurex Limited, a family-owned pharmaceutical wholesaler with five depots in Redditch, Leeds, Durham, East Kilbride and Dublin and a network of community pharmacies across the Midlands, Northwest, and Northeast of England. Lexon, is a family-owned business which has been in operation for over 25 years, running primarily as a pharmaceutical wholesaler for 3,000 retail pharmacy customers across the UK and Ireland. The business also operates 42 community pharmacies - currently trading as Knights Pharmacy - and is also a specialist developer and manufacturer of generic pharmaceuticals and is a data and solutions provider to pharmacy. The acquisition will be notified to the Competition and Markets Authority (CMA). Both parties have proactively engaged with the CMA in pre-notification discussions and look forward to continuing to do so productively during the CMA review period. Haider Choudrey, CFO of Bestway Group which own Well Pharmacy, said: "Through this acquisition we seek to augment our growth momentum and bring in even greater benefits to both community pharmacies and patients. Well Pharmacy had been searching for a target to expand its footprint and complement its growth trajectory and we are confident that Lexon fits this criterion."

Gurinder Singh, a lecturer of Pharmacy at the University of Reading, is set to transition into the role of an independent community pharmacist, along with his wife, Rajdip Purewal, a Clinical Pharmacist in General Practice and clinical lecturer at University of Hertfordshire. In an exclusive with Pharmacy Business, Singh shared his excitement about his acquisition of a Boots pharmacy located in picturesque Malmesbury, Wiltshire. His acquisition reflects broader trends in the pharmacy sector where experienced professionals are stepping in to fill gaps left by corporate closures. According to Singh, driven by a passion for healthcare and a commitment to their community, the new venture promises to bring an innovative and personalised touch to pharmacy services offered in the area. Discussing his motivation for revamping the pharmacy, now Malmesbury Pharmacy, Singh said: "My initial motivation was to ensure the local community didn't have to put up with another closure of a pharmacy after the recent closure of the Lloyds Pharmacy in Malmesbury."

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."

O'Briens Pharmacy Group has sold Bispham Pharmacy as part of a strategic review of its nine-site portfolio, now reduced to eight, across the Fylde coast region. Christie and Co, the property adviser, recently announced that the group's popular Blackpool pharmacy business has been acquired by first-time buyer, Arif Bhuriya. Bispham Pharmacy, which dispenses around 4,500 items per month, is situated in the heart of Bispham's commercial centre, opposite a bustling shopping area. The community pharmacy has been in this location since February 2021, following a minor contract relocation. O'Briens Pharmacy Group provides pharmacy services across Fleetwood, Thornton-Cleveleys, Bispham, Burscough, Liverpool, and surrounding areas. Aisling O'Brien, owner of O'Briens Pharmacy, explained the rationale behind selling the Bispham site: "When we had a strategic review of our group, we saw Bispham as an ideal site to dispose of, knowing it would fare much better in the current climate as an owner-operated site.

Raylane Pharmacy Group has expanded its portfolio by acquiring Evans Pharmacy in Worcestershire. With this new addition, the independent community pharmacy chain has increased its total number of branches to 10. Located in the centre of Malvern Link in Worcestershire, Evans Pharmacy dispenses approximately 10,000 items per month. The acquisition follows the retirement of the previous owner, Philip Hawkes, who had managed the business for over a decade. The sale was facilitated by Christie and Co through a confidential process, and the transaction price remains undisclosed. Commenting on the deal, Carl Steer, director-pharmacy at Christie and Co, said: "The sale represents a perfect addition to an already successful group for Raylane Ltd. "The instruction proved popular, and the completion represents another sale for Christie and Co in a record year for pharmacy sales."

Knights Pharmacy has significantly expanded its footprint in South Wales through its recent acquisition of pharmacies in Abercarn and Cwmcarn from the Evans Group. This move marks another strategic expansion for the Redditch-based pharmacy group, bolstered by funding from HSBC UK. The Abercarn site, which handles approximately 12,000 medication items annually, and the Cwmcarn site, dispensing around 5,000 items, will now operate under the Knights Pharmacy banner. This acquisition adds to Knights Pharmacy's growing portfolio, which now spans 49 community sites across England and Wales, a substantial increase from 18 sites just three years ago.

Independent pharmacy chain, Peak Pharmacy, has sold two of its smaller branches - one in Little Eaton, Derbyshire, and the other in Burton-on-Trent, Staffordshire. Founded in 1981 by Peter and Jane Cattee, Peak Pharmacy has over 150 pharmacies across the UK. The pair of Midlands pharmacies dispense an average of circa 2,800 items per month, according to specialist business property adviser, Christie & Co, which announced the sale. The pharmacy in Burton-on-Trent has been acquired by a local first-time buyer, Mohammed Wasim Gul, while the pharmacy in Little Eaton has been purchased by Amul Telrandhe, who is also the owner of Derwent Pharmacy in Derby.

A pharmacy group operating in London and the surrounding areas has said it's cliched a financial deal worth £4.25 million with a major global bank to bolster its mergers and acquisitions activity. Osbon Pharmacy Group said on Monday (19 June) that it would use the multi-million-pound funding package from HSBC UK to also invest in bringing accessible and comprehensive medical services closer to the doorstep of Londoners and people of South East England. The family-run business said the new money will open new position which will include opportunities for pharmacists, pharmacy assistants, pharmacy technicians, dispensers, accounts clerks and delivery drivers, taking the company's total headcount to 185. The group, which currently has 26 pharmacies across London and South East England, was established in 2005. The company offers a range of medicine and prescription services as well as offering customary help and advice. It switched to banking with HSBC UK last year as part of a £6.9M refinance package, which saw the business acquire nine pharmacies and takes the total funding provided by HSBC UK to date to £11.1m.

Since 1990, Glendale Pharmacy in Wooler, Northumberland, has been under the ownership of Andrew Booth, who recently decided to sell it to pursue a well-earned retirement. According to Christie & Co, the community pharmacy has been acquired by Jagraj Randeva, who owns a small portfolio of pharmacies in Ashington and Newcastle upon Tyne. Jagraj was particularly drawn to this pharmacy because of its advantageous, unchallenged location and its strong historical performance. Located near the Cheviot Hills and 17 miles south of Berwick-upon-Tweed, Glendale Pharmacy dispenses an average of 6,600 items per month. Karl Clezy, Director - Pharmacy at Christie & Co, noted that Glendale Pharmacy has seen an improvement in its trading performance since the start of the marketing process, increasing its prescription numbers and providing more additional/enhanced services.

Online pharmacy Pharmacy2U, acquires LloydsDirect in a merger for a single digital-first pharmacy. The companies issued a statement on 9 October and confirmed that they would operate as Pharmacy2U. It would also have a total of 1.4 million EPS nominations, as confirmed by NHS recent data. They are planning to enhance patient accessibility to online pharmacy and healthcare services through their combined services. Kevin Heath, Chief Executive Officer of Pharmacy2U, said: "We are delighted to welcome the LloydsDirect team into the Pharmacy2U family. Combining the best of both of our businesses, we can provide patients with greater access and convenience.

Bestway operates approximately 750 pharmacies nationwide in the UK under the Well brand. In April 2023, it completed its acquisition of Lexon, which operates 46 pharmacies in the UK under the Knights Pharmacy brand, and Asurex, a wholesale perfume supplier. 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. Colin Raftery, CMA Senior Director of Mergers, said: "Pharmacies are essential public health services, and it's vital that the loss of competition brought about by a deal like this shouldn't leave people with reduced choice or worse services when they need medical support. The CMA will now carefully consider whether the remedy put forward by Bestway will address its concerns and ensure that customers in the affected areas continue to have access to good quality chemists.

Chemix Group, an independent contractor, has acquired a high-dispensing Darlington pharmacy, previously owned by Middleton Healthcare Limited for 22 years. The pharmacy, located in the village of Middleton St George near a GP surgery, dispenses an average of 10,874 items per month, according to Christie and Co, which brokered the deal. Middleton Healthcare Limited, a consortium of three GPs, decided to sell the pharmacy as part of their retirement plans, the broker said. Chemix Group, which also owns a pharmacy in Halifax, secured the acquisition through a confidential sales process with Christie and Co. Prashanth Takkallapally and Harendra Patel, directors at Chemix Group, shared that, being local to the area, they knew this was the right pharmacy to add to their expanding group. "We look forward to growing the business and implementing our plans to improve healthcare in the village," they said. Patrick Holmes, the former owner of Middleton Pharmacy, expressed satisfaction with the sale, saying, "We are very happy with the outcome of handing over the business to new owners and keeping the business local.

Christie & Co, a specialist business property adviser, recently finalised the sale of two pharmacies-one located in Wales and the other in Hampshire. Sylvia Williams Chemist, a well-performing community pharmacy located on the main high street of the Vale of Glamorgan market town of Cowbridge, has been sold after an impressive 50 years of ownership. Dispensing an average of 12,500 items monthly, the business has been owned by Kate Thomas and her family for nearly 50 years. It was put on the market to enable her retirement and allow her to focus on other interests, the broker said. The pharmacy has been purchased by Zaid Salih, making it his second pharmacy acquisition. Jonathan Board, Director - Medical at Christie & Co, who handled the sale, said that Sylvia Williams Chemist attracted a wide range of buyers.

Pharmacy2U has recently acquired LloydsDirect in a confidential deal, bringing together two of the UK's foremost online pharmacies. Over time, both entities will integrate their operations under the Pharmacy2U brand, the companies said in a joint statement. The two businesses complement each other effectively, and their teams will now work closely together to uphold the patient-centric approach and service quality for which both are known individually, the statement added. However, there is currently limited clarity regarding the sale process and its impact on Lloyds staff. According to NHS Business Services Authority data from PharmData, Pharmacy2U dispensed 1,528,436 items in June 2023, while LloydsDirect, previously owned by LloydsPharmacy, dispensed 1,142,891 items. This positions them as the top two online prescription pharmacies for items dispensed, with Well.co.uk in third place at 128,691 items.

Pharmacy contractors continue to grapple with profit pressures despite many reporting significant sales revenue increases, according to Hutchings Consultants' England Pharmacy Market Update 2024. The report emphasises that gross profit margins are under considerable strain due to factors such as rising wholesale drug costs, the dispensing of certain drug lines at a loss, reduced drug tariff reimbursements, and ongoing medicine shortages. These challenges have led to a growing number of pharmacies reporting substantial declines in their profit margins this year. For instance, Cohens Chemists reported a £5.7 million loss in the last financial year, even as sales reached £253 million. Similarly, Day Lewis, the UK's second-largest independent pharmacy chain, experienced a 5.9% sales increase driven by growth in prescription dispensing, over-the-counter sales, and pharmacy services, yet faced a 32% drop in pre-tax profits due to heightened administration costs, which included inflation-driven increases in staff, energy, utilities, and rent. The average profit margin has declined to 33% in 2024, down from 34.4% the previous year.

Rosemont Pharmaceuticals (Rosemont) has acquired Lucis Pharma Ltd, a specialist pharmaceutical business in the UK. Through this acquisition Rosemont will expand its existing portfolio and have access to a pipeline of innovative products, providing lifesaving pharmaceuticals to the UK and overseas markets. Founded in 2012, Lucis has grown to become a leading provider in the development and licensing of novel and exclusive medicines. With over a dozen SKUs covering a variety of therapeutic areas, Lucis has established a strong portfolio that, in addition to a pipeline of innovative developments, serve the growing patient need for liquid medicines. The acquisition will enable Rosemont to broaden its portfolio and enter the unit dose / sachet market through the pipeline products, whilst growing the business through recent Lucis product launches in 2021/22. "As well as continuing to broaden our portfolio and add to our strong growth globally, this acquisition also gives access to pipeline products and developer relationships to accelerate our entry into new product areas such as sachets" said Howard Taylor, Chief Executive Officer of Rosemont.

The Competition and Markets Authority (CMA) has revoked its initial enforcement order imposed on Pharmacy2U Limited (Pharmacy2U) concerning the acquisition of Metabolic Healthcare Ltd (Lloyds Direct). In the revocation order issued on February 12, the regulator said its decision was "based on the evidence it has received in its assessment of the Merger to date." The CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Pharmacy2U, P2U Holdings Limited, G Square Capital II L.P., G Square Healthcare Private Equity LLP (collectively, the Acquirer Group) and Lloyds Direct on 28 November 2023. It announced that it was considering "whether it is or may be the case that a relevant merger situation has been created and whether the creation of that situation has resulted or may be expected to result in a substantial lessening of competition in any market or markets in the United Kingdom (UK)."

Specialist business property adviser, Christie & Co, on Tuesday (7 November) announced the sale of Macbon Chemist for the first time in 35 years. The popular community pharmacy, which is located in the heart of the Tollcross area in the east end of Glasgow, dispenses 8,000 National Health System (NHS) items per month. Elizabeth McLaughlin owned the pharmacy since 1987, recently decided to retire and sold the pharmacy for an undisclosed sum. She had been running it along with a team of employed and locum pharmacists. The pharmacy was bought by Ron Badger who owns and runs another pharmacy in the Drumchapel area of Glasgow.

Britain's antitrust regulator, the Competition and Markets Authority (CMA) on Wednesday announced that it is investigating the acquisition of LloydsDirect by Pharmacy2U last year, and has launched its first phase of the merger inquiry. The completed deal between two of the UK's foremost online pharmacies was announced in a joint statement issued on 9 October, confirming that they would operate as Pharmacy2U. Commenting on the purchase, Kevin Heath, CEO of Pharmacy2U, then said: "Combining the best of both of our businesses, we can provide patients with greater access and convenience." The regulator is considering "whether it is or may be the case that this merger has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services."