Group items tagged

Community pharmacists across the UK are looking for ways to reduce operational costs and find new sources of revenue. This is a pressing issue for the sector: reversing a decade of cuts to pharmacy funding will be a mammoth task, while pharmacists have taken on new primary care responsibilities under Pharmacy First. This means that fresh sources of revenue and lower costs will overwhelmingly come from new technology and the efficiencies they can bring. As Britain's 11,500 community pharmacies assume a larger role on the frontlines of primary care, pharmacists should rapidly implement cost-effective tech solutions that provide pharmacies with a one-stop-shop to drive down costs and increase revenue. Opportunity in PGD reform New technology will be key for community pharmacists to benefit fully from reforms to PGDs. The scope of PGDs is now significantly expanding: as of June 26, pharmacy technicians are now on the list of registered healthcare professionals who can make use of PGDs. These reforms can benefit community pharmacies in several ways. For one, they will allow more pharmacy staff to administer 'frontline services' such as vaccinations - reducing costs and generating revenue. Further, the wider range of services that pharmacies can offer under Pharmacy First will make these procedures, as well as other kinds of preventative care, more accessible and convenient - increasing footfall. With international travel and tourism now growing apace, increased demand for travel vaccinations means that, according to research from Charac, the average UK community pharmacy can expect to generate £46,800 a year through travel health services.

Covid-vaccine maker AstraZeneca said Friday that profits fell sharply in the first half on ballooning costs linked to its takeover of US biotech firm Alexion. The pharmaceutical group added that sales of its Covid-19 vaccine Vaxzevria slumped 49 percent in the second quarter. Net profit slumped 64 per cent to $746 million compared with the first six months of last year, AstraZeneca said in a statement. Operating expenses jumped 33 percent, "reflecting the addition of Alexion, and continued investment in new launches and the pipeline" of drugs, the group said. That offset a 48-percent jump in revenue to more than $22 billion. Revenue rose strongly thanks to sales of Alexion medicines. The group said annual revenue from Covid-19 medicines is anticipated to be broadly flat compared with 2021.

Sun Pharmaceutical Industries, India's largest drugmaker by revenue, reported a better-than-expected 5.2 per cent rise in third-quarter profit on Tuesday, driven by higher sales of its specialty drugs. The company, known for its consumer healthcare products such as Revital vitamins and pain relief medicine Volini, said it earned a consolidated net profit of 21.66 billion rupees ($265.23 million) in three months ended Dec. 31, up from 20.59 billion rupees last year. Analysts, on average, had expected the company to report a profit of 21.26 billion rupees, according to Refinitiv IBES data. Total revenue from operations climbed nearly 14 per cent to 112.41 billion rupees. Input costs rose 8.5 per cent. Drug sales in India rose 7.1 per cent to 33.92 billion rupees, whereas sales in the United States climbed 16.6 per cent to 34.66 billion rupees, with each of the two regions accounting for 31 per cent of the company's total consolidated sales. The company, founded in 1983, makes over-the-counter medications, anti-retrovirals and active pharmaceutical ingredients for chronic and acute treatments.

Covid-19 vaccine maker Novavax on Wednesday said it expects revenue this year to be flat or lower as it works to improve its commercial performance and pick up market share from much larger rivals, Pfizer and Moderna. The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts' estimates. Chief executive John Jacobs said Novavax claimed just a low-single-digit percentage market share in the US during the most recent vaccination campaign, as demand for Covid vaccines was smaller than hoped and the company got its protein-based shot to market later than its messenger RNA-based rivals. "We were disappointed with that US performance," Jacobs said in an interview. He said the company's sales force was not targeted enough toward retail pharmacy chains, and that its 5-dose vials were not as convenient for use as rivals' pre-filled syringes.

Pharmaceutical companies AbbVie and Eli Lilly have withdrawn from Britain's voluntary medicines pricing agreement, an industry body said on Monday. Companies are increasingly arguing that it is no longer possible to justify the UK's "voluntary scheme" to global boardrooms and investors as repayment rates in 2023 have surged to 26.5 per cent of revenue, the Association of the British Pharmaceutical Industry (ABPI) said in a statement. "The current scheme has harmed innovation, with costs spiralling out of control, and the UK falling behind other major countries to be left as a global outlier," said Laura Steele, president and general manager for Eli Lilly's Northern Europe division. ABPI said it was seeking early talks with the government to set out a new future settlement. In December, the industry body had said the government raised the amount manufacturers of branded medicines within the voluntary scheme will be required to return to almost £3.3 billion in sales revenue from an earlier amount of £1.8 billion.

The Association of the British Pharmaceutical Industry (ABPI) on Thursday (February 2) called for the government to scrap its plans to raise the repayment rates for drugmakers, to avoid possible setbacks in the sector. Drugmakers that are part of the government's voluntary scheme agreement, which makes branded medicines affordable for people, are required to pay a part of their drug revenue to the government. The Department of Health and Social Care plans to raise the revenue clawback rate to 27.5 per cent from 24.5 per cent. The country's ongoing attempt to raise rates is likely to send the "worst possible signal" to global investors and boardrooms, said the ABPI. "Hiking these clawbacks to such uncompetitive levels risks undermining the UK's offer to global life sciences companies," Richard Torbett, chief executive of the ABPI, said in a statement. Pharmaceuticals giants AbbVie and Eli Lilly withdrew from the UK's voluntary drug pricing agreement in January after the repayment rates surged to 26.5 per cent.

It's no secret that as pharmacists we are navigating a new and more demanding healthcare landscape. Our role has changed significantly since the start of the 21st century due to increased expectations from the public, advances in science and technology and changing workforce pressures. The Community Pharmacy Contractual Framework for England has placed a higher focus on clinical service. In addition, the Covid-19 pandemic resulted in significant acceleration in changing how we work day-to-day and the public perception of our role. Community pharmacy owners and staff have been under relentless pressure for the last two years. Dispensing volumes are continually increasing but dispensing revenues are being replaced by launching new services. We must find solutions to reduce the time it takes to dispense medication so we can focus on these new revenue generating services. To not just succeed, but to thrive, it is becoming increasingly important to understand and embrace the technology available.

Anglo-Swedish drugmaker AstraZeneca said on Monday (January 9) that it had struck a deal to buy US-based drug developer CinCor Pharma for up to $1.8 billion to increase its stock of heart and kidney drugs. Core to the deal is CinCor's experimental therapy baxdrostat, which is in development to treat conditions including high blood pressure and chronic kidney disease. AstraZeneca aims to combine baxdrostat with its own Farxiga, a diabetes drug whose sales ballooned after it was also shown to benefit patients with heart failure and kidney disease. Farxiga, whose sales jumped by almost 50 per cent during the first nine months of 2022 to reach $3.2 billion, belongs to a highly competitive class of drugs that includes rivals such as Boehringer Ingelheim and Eli Lilly's Jardiance. AstraZeneca gets about a third of its revenue from cancer drugs, but its heart, kidney and diabetes medicines are its second most lucrative business by sales, generating roughly $6.9 billion of the drugmaker's total revenue of more than $33 billion in the first three quarters of 2022.

Well Pharmacy's parent company, Bestway Group, announced on Wednesday (20 March) that it recorded a five per cent growth in revenues to £4.74 billion for the year ending June 2023, alongside a pre-tax profit of £420.9 million. During the year, the company also completed acquisition of Lexon UK Holdings, a leading pharmaceutical wholesaler serving over 3,000 retail pharmacy customers across the UK and Eire. Furthermore, the Group completed the construction of two cement plants in Pakistan, bringing its total cement manufacturing capacity to 15.3 million tonnes per annum. Sir Anwar Pervez OBE, founder and chairman of Bestway Group, expressed optimism about the new business year and said: "The Group has continued on its growth trajectory in 2023 and we are confident that our businesses will continue to gain share within their respective markets during 2024."

Paydens Pharmacy Group, one of the first multiple pharmacies to adopt hub and spoke model last year, revealed that the move has resulted in significant time savings in store. Centralising dispensing of repeat prescriptions relieves pressure in pharmacy branches and releases time to deliver revenue generating services, the group said. The group created a hub in Maidstone, Kent, to service its highest dispensing branches. The hub uses Centred Solution's FLOWRx Hub Auto to dispense their original pack repeat prescriptions. The group put in the first FLOWRx Hub production line in spring 2022 and then added in a second line in the autumn as they increased production and moved more stores to the hub and spoke model. The innovative solution interfaces with EMIS PMR, Omnicell's Robotic Dispensing System and Universal Logistics Management software as well as Victoria OS ordering software. The hub operation runs during the day Monday to Friday and produces an average of 33,289 packs per week for just under 9,000 patients, leaving plenty of scope to ramp up. The hub is currently dispensing 79.7% of repeat prescription original packs requested by the group's busiest stores.

Boots witnessed a 'record-breaking' performance for beauty driving retail sales with a growth of 16 per cent in the three months to 28 February 2023. The beauty category delivered a record January, and premium beauty saw its biggest ever sales week in December. Skincare reported three consecutive weeks of record sales in December driven by the 'expert skincare' category in which brands including No7, La Roche-Posay, CeraVe and Eucerin proved popular. Boots beauty transformation strategy continued with 19 new beauty halls opened in Q2 and the 170th store to receive a beauty makeover opening at Westfield White City post-period end. Boots now stocks over 500 big name and cult beauty brands and exclusively sells the UK's leading skincare brand, No7. The business reported its eighth consecutive quarter of market share growth with gains across all categories, led by beauty - the stand-out performer of the quarter. Footfall, basket size and the number of Advantage Card customers all increased, as more people chose to shop at Boots. The Christmas period was particularly strong with retail sales in the five weeks to 31 December up 17.4% and outperforming the market. Boots further expanded its value offering in the quarter, announcing its biggest ever savings as part of its continued focus on the affordability of life's essentials. This included the addition of 60 new products to the Boots Everyday label as well as the extension of its Price Advantage scheme, which has to date resulted in £30 million of customer savings and now includes discounts on over 800 products every month.

The Pharmacists' Defence Association (PDA) has advised locums that they are under "no direct obligation" to help contractors gather data for an HM Revenue and Customs (HMRC) investigation. However, they may choose to assist the large contractors "to help ensure HMRC reach a final decision based on all the relevant facts," PDA said. The HMRC investigation into the tax status of locums forms part of the extension of the IR35 arrangements into the private sector. The IR35 came into effect from April to ensure that individuals working like employees through their own limited company pay the same income tax as paid by those employed by a company. In recent weeks, some contractors have contacted locum pharmacists to assist them in data gathering on their work arrangements.

Omnicell Limited, a wholly owned subsidiary of Omnicell - an American healthcare technology company, has signed an agreement with the shareholders of Hub and Spoke Innovations Limited to acquire Hub and Spoke Innovations. Hub and Spoke Innovations Limited is distributor of the Pharmaself24 prescription collection kiosk in Great Britain. The move will complement Omnicell's total solution technology portfolio for retail pharmacy in the UK, including a pack-pick dispensing robot, automated MDS filling machine and eMAR solution, thereby helping pharmacies to improve workflows and offer a 24/7 access to medications and patient care. It will also help community pharmacies achieve their goals, as they increasingly look at ways to make their businesses more efficient and free up staff to offer more pharmaceutical care and services to patients. In short, the deal would enable Omnicell to offer a wider range of digital technologies to streamline retail pharmacy operations, allowing pharmacists to spend more time with patients and focus on value-added, revenue-generating healthcare services, such as vaccinations.

Major Highlights of the Sugar Beet Seeds Market report study: A detailed look at the global Sugar Beet Seeds Industry The report analyzes the global Sugar Beet Seeds market and provides its stakeholders with significant actionable insights The report has considered all the major developments in the recent past, helping the users of the report with recent industry updates The report study is expected to help the key decision-makers in the industry to assist them in the decision-making process The study includes data on market intelligence, changing market dynamics, current and expected market trends, etc. The report comprises an in-depth analysis of macroeconomic and microeconomic factors affecting the global Sugar Beet Seeds market Market Ecosystem and adoption across market regions Major trends shaping the global Sugar Beet Seeds market Historical and forecast size of the Sugar Beet Seeds market in terms of Revenue (USD Million) Recent industry development and consumer preference trends Competitive Landscape and player positioning analysis for the global Sugar Beet Seeds market Key products and solution offerings by major players and business strategies adopted Recommendations for new market entrants and current players operating in the market space Analysis of niche and potential segments (type, application, and regions/countries) anticipated to observed promising growth Key challenges faced by operating players in the market space Analysis of major risks associated with the market operations Get FREE PDF Copy @ https://www.marketresearchstore.com/sample/sugar-beet-seeds-market-794502?utm_source=diigo.com-VPL&utm_medium=Varsha

Private healthcare provider CityDoc has partnered with the National Pharmacy Association (NPA) in its bid to widen a "nationwide network of vaccine clinics" to increase footfall to community pharmacies that come onboard. The company says NPA member pharmacies that join the network will have their own dedicated page on the CityDoc website, while benefiting from having online marketing done on their behalf via an extensive Google AdWords campaign and local listings optimisation - all paid for by CityDoc. The participating pharmacies will also have access to their own booking system, marketing materials and access to the latest vaccine and private healthcare information. NPA member Nick Daines, who runs Lifestyle Pharmacy in Bath, said he has partnered with CityDoc for six years and seen "a significant increase in revenue from private services." He added: "The CityDoc partnership has allowed us to establish Lifestyle Pharmacy as a go-to venue for healthcare within Bath. "We have seen significantly increased footfall thanks to our partnership with CityDoc, which in turn has allowed us to grow the NHS and retail aspects of the business."

The High Court has dismissed the British Generic Manufacturers Association (BGMA)'s claim on being excluded from ongoing negotiations between the government and industry to agree a new Voluntary Scheme for medicine pricing and access (VPAS). The association had sought a judicial review of the Department of Health and Social Care's (DHSC) decision to negotiate a new Voluntary Scheme for branded medicines with the Association of the British Pharmaceutical Industry (ABPI) in April. Commenting on the result of the case, Richard Torbett, Chief Executive of the ABPI said: "For over 60 years the ABPI has acted as the representative industry body for negotiations on the Voluntary Scheme for branded medicines - a responsibility we take extremely seriously - and one which has been reaffirmed by today's judgment. "While we were disappointed that the BGMA decided to take this action - we recognise their decision was driven by the extreme challenge placed on all parts of the industry from the surge in the branded medicine payment rates. "The solution to these problems must be a completely new and sustainable approach to medicines provision in the UK which rapidly brings industry revenue payments in line with comparator countries to unlock investment and growth."

The government has launched a consultation into radically changing the Statutory Scheme for branded medicines (known as the Statutory Scheme). The consultation comes as delicate negotiations for replacing the alternative Voluntary Scheme are underway, potentially undermining these talks, while also further damaging industry confidence in the UK as a viable place to research, launch and supply medicine. The government proposals seek to hold average revenue clawback rates under the Statutory Scheme at historic highs of between 21-27%, compared to the pre-pandemic averages of 9.4% for the Statutory Scheme (2019-2021), and 6.88% for the Voluntary Scheme (2014-2021). The accompanying cost-benefit analysis ignores any negative impact this may have on medicine supply and wrongly claims it will boost investment. The consultation comes on the heels of government data last week showing UK life sciences foreign direct investment (FDI) fell by 47% between 2021 and 2022, down by £900m year on year. This large fall in investment coincided with a rise in the main UK clawback rate under the Voluntary Scheme from 5% to 15%, and led to the UK falling from 2nd to 9th out of 18 comparator countries for life sciences FDI in 2022. The Voluntary Scheme clawback rate now sits at a record 26.5% in 2023.

The British Generic Manufacturers Association (BGMA) has warned of the significant implications for future supply as a result of the crippling VPAS rate. The warning comes after the association's judicial review into the Government's decision to bar it from being a full part of the negotiations for the next five-year VPAS period was dismissed. The voluntary scheme for branded medicines pricing and access (VPAS) is an agreement between the Department of Health and Social Care (DHSC), NHS England and The Association of the British Pharmaceutical Industry (ABPI). The scheme aims to limit increases in spending on branded medicines to no more than 2% per year via a rebate system which is charged on companies' sales revenues. Two years ago, the rate was 5.1%, but in 2023 it has soared to 26.5%. All biosimilars and a proportion of the generics market falls into the scheme.

British pharmacy chain Superdrug has announced plans to cease the sale of disposable vapes in all its UK and Ireland stores, citing the environmental impact caused by its disposal and popularity among young people. The pharmacy retailer will discontinue selling brands like Vuse GO and Flavaah Bars, with plans to completely clear out existing stock by the end of the year, the company said in statement. Superdrug, which previously sold 1,300 single-use vapes weekly, expects a potential impact on revenue stemming from this decision. The company has not yet started selling vapes online. "This decision was made to safeguard the environment," the company said on Sept.22, highlighting the risk of fires due to improper disposal of vapes, as many of them contain lithium batteries.

Pharmaceutical giant AstraZeneca will acquire biotechnology company Neogene Therapeutics for up to $320 million, the London-listed drugmaker said on Tuesday (November 29) as it seeks to build its pipeline of cell-based cancer treatments. Though AstraZeneca's oncology portfolio accounted for more than a third of the company's revenue last year, it does not have an approved cell-based cancer therapy and is behind rivals such as Novartis and Gilead. "Neogene's leading (T-cell receptor) discovery capabilities and extensive manufacturing experience complement the cell therapy capability we have built over the last three years," said Susan Galbraith, AstraZeneca's executive vice president of oncology research. Cell-based treatments are a relatively new approach to treating cancer, most of which involve drawing the body's own immune cells and processing them in the lab to target and kill cancer cells. Neogene's approach goes one step further in that its experimental T-cell receptor therapies seek to target DNA mutations specific to tumours, not only certain proteins on the surface of cancer cells.