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The Pharmaceutical Services Negotiating Committee (PSNC) chief executive Janet Morrison has assured contractors that PSNC will continue to raise with the new prime minister all concerning issues that are bothering pharmacy businesses. She felt the "fixed five-year funding settlement that is declining in real terms" was one of the serious factors that is putting a lots of pressure on contractors. PSNC has provided a compelling portfolio of evidence on the impact that pressures are having on the sector, and requested urgent additional funding, she said. Morrison, in her video message shared yesterday (August 24), urged contractors to keep sharing and sending evidences to act on their behalf. She said she is aware "this one of the toughest periods for the businesses" and "I believe that it demands more action from the government." Morrison assured the sector she was aware that contractors were also facing difficulties in "dealing with global medicines market and the challenges on been able to procure medicines within the drug tariff." "I know how hard it is to see the future sustainability of your businesses. I can see you are facing serious workforce pressure, rising cost, shortage of pharmacists, inflation pressure. I know your using facing increase in demand from the patients who has given up on their GPs and turning to you for support and advice."

Walgreens Boots Alliance (WBA), the parent company of high street pharmacy Boots, plans to close 1,200 stores in the United States over the next three years in response to a slowdown in consumer spending and low drug reimbursement rates. As reported by The Times, the closures are part of a strategy by new CEO Tim Wentworth to restore growth for the group, which runs over 8,700 stores in the US and 2,000 Boots pharmacies in the UK. Wentworth described the 2025 financial year, which started last month, as a crucial "rebasing year" for the company. He expressed confidence that, although the turnaround will take time, it will yield significant financial and consumer benefits in the long term. The announcement of the store closures coincided with the release of the fourth-quarter results, which slightly exceeded Wall Street's lowered estimates. Walgreens' stock, which has declined by 65 per cent this year and is now trading near 30-year lows, rose by $1.44, or 16 per cent, closing at $10.44 on Wall Street.

Covid-19 vaccine makers are shifting gears and planning for a smaller, more competitive booster shot market after delivering as many doses as fast as they could over the last 18 months. Executives at the biggest Covid vaccine makers including Pfizer and Moderna said they believe most people who wanted to get vaccinated against Covid have already done so - more than five billion people worldwide. In the coming year, most Covid vaccinations will be booster shots, or first inoculations for children, which are still gaining regulatory approvals around the world, they said. Pfizer, which makes its shot with Germany's BioNTech and Moderna still see a major role for themselves in the vaccine market even as overall demand declines. Upstart US vaccine maker Novavax and Germany's CureVac, which is working with GlaxoSmithKline, are developing vaccines they hope to target at the booster market. The roles of AstraZeneca and Johnson & Johnson, whose shots have been less popular or effective, are expected to decline in this market.

Japanese drugmaker Eisai said on Tuesday (January 10) it had submitted a marketing application to the European health regulator for review of its Alzheimer's drug lecanemab, which was recently granted accelerated approval in the United States. The drug, developed in partnership with Biogen, is an antibody that has been shown to remove sticky deposits of a protein called amyloid beta from the brains of those in the early stages of the mind-wasting disease. Nearly all previous experimental drugs using the same approach have failed. The company's application to the European Medicines Agency is based on results from a late-stage study in which the drug was shown to slow down the rate of cognitive decline in patients with early Alzheimer's by 27 per cent, compared with a placebo. Eisai also reiterated its plans to apply for marketing authorization of the drug in Japan by the end of its business year on March 31.