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Walgreens Boots Alliance, the American owner of Boots UK, could risk losing billions after a private equity firm interested in buying its UK high street pharmacy chain valued the retailer at a steep discount, The Telegraph reported on Monday (April 11). "Buyout funds CVC and Bain indicated that they were willing to pay just £4bn for the business," the newspaper said, adding that "the consortium bowed out of the running" in March. The US retail giant Walgreens, which acquired Boots in 2014 for £9bn, has put a £7bn price tag on the UK pharmacy retail chain after selling its wholesale arm, Alliance Healthcare, last year. Citing city sources, the newspaper said the low valuation of the pharmacy multiple was "significant" because CVC's UK operations were led by Dominic Murphy, a Walgreens board member involved with Boots for 15 years. "He (Murphy) knows where the bodies are buried," the newspaper quoted one City source as stating. A spokesperson for Boots confirmed that CVC and Bain never lodged a formal offer for the company.

Boots UK will offer a staring salary of £42,000 per annum to newly qualified pharmacists joining the pharmacy chain. The company also revealed that "in addition, any existing pharmacists in the bargaining unit currently receiving less than £43k." The newly announced hike in the salary - following an agreement reached between the multiple and and the Pharmacist Defence Association - will be effective from 1 August 2022. "This enhanced offer for Newly Qualified Pharmacists and further investment in those in the early stages of their careers at Boots is a key part of our commitments to pharmacists," the company said. Boots and PDA Union also announced in a joint statement that they will conduct a further formal review of all pharmacists' pay in accordance with the collective agreement, effective from 1 November 2022.

Boots has welcomed job applications from LloydsPharmacy staff impacted by the news of closure of all its branches located in Sainsbury's before the end of 2023. The company is recruiting for more than 1,500 pharmacy roles nationwide. Vacancies span pharmacy roles at all levels - from Pharmacy Advisors (Dispensers) and Trainee Pharmacists to experienced Pharmacists looking to develop their careers. Sebastian James, Managing Director of Boots UK & ROI, said: "Pharmacies deliver vital healthcare in the heart of communities. News of the closure of LloydsPharmacy branches within Sainsbury's stores will no doubt have an impact on many talented pharmacists as well as their patients. "We have many roles available at Boots and welcome applications from LloydsPharmacy employees affected by the closures. Patients who are worried about their future pharmacy provision can check our store locator online to find out where their nearest Boots store is - our pharmacy team members are ready to help." There are over 2,200 Boots stores across the UK and 85% of the population live within 10 minutes of a Boots store.

Walgreens Boots Alliance on Tuesday (June 28) scrapped the plan to sell its UK high street pharmacy chain saying no third party was able to make an adequate offer due to the turmoil in global financial markets. Walgreens' move to call off the sale comes as private equity bidders Apollo Global and TDR faced headwinds in raising financing for the deal, as banks were wary of underwriting large chunks of the financing due to tough market conditions. Boots was initially valued at as much as £8bn with the auction process being led by Goldman Sachs. Global economic uncertainty and rising inflation have triggered a spike in interest rates as central banks have rushed to take action in the most widespread tightening of monetary policy for more than two decades, making deal financing costlier and harder to access. Walgreens had put its Boots UK business up for sale after announcing a strategic review in January as the second-largest US pharmacy chain renewed its focus on domestic healthcare. The company said the decision to retain Boots and No7 Beauty Company was also underpinned by their ongoing strong performance.

A Boots UK branch store in Hinckley town centre closed 'until further notice' as there was 'no pharmacist available' to work on Monday (May 9). A local news report said: "The sign on the door reads: "Unfortunately, we are unable to open until further notice. We are working hard to get this rectified. "We apologise for the inconvenience. Hearing care appointments please wait here to be greeted."" LeicestershireLive reported a patient saying that their appointment for a hearing aid check had been postponed until Tuesday. It added: "The customer was surprised to be told by staff that the store had to close as there was no pharmacist available."

Boots is planning to invest more than £3.5 million to accelerate its capacity to offer prescribing services in its stores across England. The company is inviting 500 of its pharmacists to apply for a bursary which will cover the cost of pharmacist independent prescriber (PIP) courses starting this September. The value of the bursary is up to £7,000 per pharmacist, and it will enable time off work for those who need it to complete the training. The move by Boots will support its current pharmacists to gain this qualification via courses accredited by the General Pharmaceutical Council (GPhC). From 2026, all qualified pharmacists will be able to prescribe as part of new curricula for pharmacy degrees. Under current GPhC guidelines and with an independent prescribing qualification, pharmacists can prescribe autonomously for any condition within their clinical competence. Marc Donovan, the chief pharmacist at Boots, said the ambition of the company was "to have a pharmacist prescriber available at every store".

Britain's billionaire Issa brothers and Indian tycoon Mukesh Ambani are preparing to face off in the final battle for Boots UK ownership, according to Bloomberg. In the first round, Issa brothers have submitted the highest offer, the people with knowledge of the matter told Bloomberg. "The brothers are going up against Ambani, who's been working on a bid together with buyout firm Apollo Global Management Inc." The source said: "Bidders are now sizing up Boots' billions in pension guarantees - which they'll have to take on - as they figure out how much they can pay for the business." They're also working around the clock to arrange financing in a difficult market, which has gotten that much tougher due to the war in Ukraine, soaring inflation and rising interest rates, according to the people.

The Pharmacists' Defence Association (PDA) has expressed concerns over Boots UK's decision to reduce supplemental opening hours at some pharmacies. The association stated: "Some pharmacists and other staff at Boots are being notified this week of changes to opening hours at their place of work, with local briefings taking place. The PDA are supporting their members to deal with any potential impact on their employment." It said that reducing pharmacy opening hours would affect patients' access to a trusted healthcare professional, especially if it is being done by the largest community pharmacy multiple. It even called upon the NHS to adequately fund community pharmacies to ensure they remain open when patients and local communities need their services. Meanwhile, Boots management has informed PDA that most of its employees are not pharmacists, and "less pharmacists are expected to be directly impacted by these changes than other colleagues," PDA said.

HayMax, maker of the famous organic drug-free allergen barrier balm has been awarded the 'British Made Award' for Best British Allergy Product 2022. The award celebrates businesses that work tirelessly to make their region one of the most diverse and dynamic the UK has to offer. HayMax MD and creator Max Wiseberg comments: "This award means a great deal to us. We've always been proud that our products have been manufactured in the UK. We are passionate about reducing the cost to the environment so being British-made means we keep the miles down and reduce our carbon footprint." HayMax balms are manufactured in the UK. It buys local to reduce the cost to the environment, even if it means it costs a bit more. HayMax's current pots are now made in the UK, which has been great for reducing their carbon footprint. Its tins come from London. The new pots can be recycled and re-used. The brand has now switched to using sugar cane to make its pots and has also reduced the amount of material used in the pots by just over 54%. And they have switched from the plastic labels to paper labels.

Pharmacy Minister, Will Quince received flu vaccination and blood pressure check at his visit to a Boots pharmacy in Westminster arranged by the Company Chemists' Association (CCA). The Boots pharmacist, Flavia, explained to the Minister the broad range of services the pharmacy delivers, from the new medicines service to emergency contraception and the community pharmacy consultation service. The Minister witnessed first-hand much of what the community pharmacy sector has to offer patients and the NHS. Malcolm Harrison Chief Executive of the CCA said: "We share the Minister's vision on how community pharmacies and their teams can contribute to the 'Plan for Patients' set out by the Secretary of State. It is great to have the support of the Minister and we are excited for the future of pharmacy.

The Pharmacists' Defence Association (PDA) has begun conciliation with 86 pharmacy companies to safeguard the interests of former LloydsPharmacy pharmacists. The Advisory, Conciliation and Arbitration Service (Acas), a government agency, serves as a mediator between companies and employees to resolve disputes. If the ongoing mediation prove unsuccessful, individual employees retain the option to file claims in the employment tribunal, the PDA has said. The ongoing dispute centres around employers potentially failing to conduct the required consultation under the Transfer of Undertakings (Protection of Employment) regulations (TUPE) with employees and their representatives during employee transfers, the PDA said. The TUPE legislation, known for its complexity and technical nature, applies when a section of the company, like a pharmacy sold as an asset using standard disposal, undergoes a transfer. According to NHS England's recent pharmaceutical list, LloydsPharmacy has either sold or shuttered 461 branches since September 2022. According to NHSE data, as of June 30, the pharmacy chain operates approximately 512 pharmacies in England. This positions it as the third-largest chain after Boots UK and Well Pharmacy.

All adults aged 50 years and above are eligible for free flu jabs in England under the autumn Covid-19 booster programme, the Department of Health and Social Care (DHSC) has announced. "The flu virus could also be highly infectious at this time of year, so I am also announcing that those eligible for a free flu vaccination this year will include everyone aged 50 and over, primary school children and secondary school pupils in years 7, 8 and 9, as well as people in clinical risk groups, unpaid carers and household contacts of those who are immunosuppressed," said new health secretary Steve Barclay. Commenting on the DHSC's announcement, CCA chief executive Malcolm Harrison said: "We welcome the decision to accept the advice of the JCVI on who can have free Covid-19 boosters and flu jabs this autumn. Community pharmacies have turbo-charged the Covid-19 vaccination programme over the past 18 months and last year we witnessed the most successful community pharmacy flu campaign ever."