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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.

Perrigo, one of the world's largest providers of self-care products has appointed Ronald van Workum as Sales Director Germany, Customer Strategy & Implementation DACH Cluster. van Workum will continue to drive the successful integration of HRA Pharma into the Perrigo network, with a focus on well-known brands such as Abtei, Compeed and Granu Fink. He most recently held the position of Head of Key Account Management for Perrigo in Europe, based in the Netherlands. Prior to joining Perrigo he worked for Procter & Gamble in several countries, including Singapore, and in various functions, including: Market Strategy Planning Manager for the Gillette brand; and in Europe as multifunctional Team Leader Emerging Channels. The company also announced Tobias Geiger has been promoted from his role as Finance Director of the Perrigo DACH Cluster, which he held since April 2020, to General Manager of the Perrigo DACH Cluster. During this time, he successfully supported the implementation and stabilisation of the DACH cluster. He also led several business optimisations with his teams, such as the implementation of SAP in Switzerland, process digitalisation and the creation of a DACH Finance Business Partner Model. Before joining Perrigo, Geiger worked for Sanofi for more than 10 years in various leadership positions in DACH and in Latin America.

Leo Pharma, one of the leaders in medical dermatology, has appointed Kasper Künzel as Interim Vice President and General Manager for its UK and Ireland business. Kasper is an established leader within Leo Pharma, having previously been Vice President, IPO Preparedness Office, at Leo Pharma in Denmark. Kasper brings over 17 years of pharmaceutical experience, previously taking on local and global leadership positions across Leo Pharma in functions including R&D, Finance and Commercial. Having first joined Leo Pharma in Denmark in a financial function, his previous roles include General Manager in South Korea, Vice President of Corporate Transformation, and Director of R&D Business Finance He commented: "I am delighted to join the Leo Pharma UK and Ireland team and continue to build on the company's strong heritage in these markets. The UK and Ireland team are committed to the Leo Pharma values as a leader in medical dermatology, and I'm looking forward to all we can achieve together this year.

Chiesi Farmaceutici, the international, research-focused biopharmaceuticals and healthcare group has acquired Amryt Pharma, a global biopharmaceutical company dedicated to developing novel treatments for rare diseases. More than 300 million people worldwide are affected by rare diseases, including those who are living with ultra-rare metabolic and dermatologic conditions who still have no approved treatment. The acquisition reinforces Chiesi's commitment to deliver innovative treatments to patients with highly unmet medical needs. As a benefit corporation and a B Corp, Chiesi strives to create a world where it is common to have a therapy for all diseases and acts as a force for good, for society and the planet. Chiesi's Head of Chiesi Global Rare diseases Giacomo Chiesi commented: "We are excited to add the Amryt family to our company in this acquisition that demonstrates our commitment to rare diseases and aligns with our growth strategy through partnerships beyond internal research and development." Chiesi's new CEO Giuseppe Accogli said: "By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to provide a positive impact on patients living with rare diseases." With regard to the financing of the deal, cash consideration has been partially financed through a EUR 700m syndicated loan led by BNP Paribas and Crédit Agricole as Global Coordinators and ESG Structuring Banks, acting alongside BPER and Deutsche Bank as Mandated Lead Arrangers. Crédit Agricole is Loan Agent too. Lenders have been advised by Clifford Chance, while Baker and McKenzie has assisted Chiesi Farmaceutici.

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The English health secretary has fumbled the opportunity to prevent a crisis in the NHS this winter. She either does not understand or value the role of community pharmacy as the third pillar of patient access to essential healthcare. Her announcement that she wants community pharmacy to provide more services to take the strain off A&E departments and GP surgeries comes on the same day DHSC announces no new long-term investment to sustain the sector. Does she not understand that as a result of years of government underinvestment in England the network is in decline with random closures across the country? Too many pharmacies are temporarily closed every day due to workforce shortages beyond the control of pharmacy owners. Adding a new service here and there, even with some additional funding, does not address the longer term viability of the network which needs to know which patient services it will be expected to provide over the next 10 years - not just the next few months - and how those will be adequately remunerated. Asking more from our sector with no new investment is a strategy which is bound to fail. The pharmacy contract remains economically illiterate. The sector's finances need open heart surgery not a couple of paracetamol tablets.

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International day for persons with disabilities on 3rd December - Note on schemes for the welfare of persons with disabilities and concessions available to them. The Government of India is committed for the realization of full participation, protection of rights, and equal opportunities to all including persons with disabilities. India is a country where most of the population lives in the rural areas and accessing the health and rehabilitation services has always been a challenge. In a Backgrounder issued yesterday, a brief summary of the major steps initiated by the Ministry of Social Justice & Empowerment in this direction were given. Following is the Background Note on the legislative and Institutional framework along with the major schemes of the Ministry of Social Justice & Empowerment for the welfare of the People with Disabilities (PwDs). The Note also contains information on facilities and concessions available to PwDs under other central schemes which are being run by other Union Ministries. OFFER ON INTERNATIONAL DISABILITY DAY Wheelchair @ 4499 INR Tricycle @ 6500 INR Legislative Framework: There are four important legislations dealing on disabilities issues- The Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995, has laid the foundation of recognition of rights for Persons with Disabilities and has facilitated development of specific programmes for their education, rehabilitation, employment, non-discrimination and social security. The Rehabilitation Council of India Act, 1992 regulates and monitors training of rehabilitation professionals and personnel. The National Trust for the welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999, aims at enabling and empowering persons with disabilities to live independently as fully as possible in their community. Mental Health Act, 1987, address to the specific needs of persons with ment

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Ahead of the launch of UK's first state-of-the-art automated hub for independent community pharmacists, HubRx has announced the appointment of Karl Wooldridge as operations director and Matthew Tollefson as chief financial officer. Karl brings more than 14 years of sector experience to his new role with HubRx. Having begun his career as an independent community pharmacist, Karl has gone on to hold key roles within pharmacy automation, including managing Phoenix Medical Supplies' offsite dispensing service. Commenting on his appointment, Karl said: "I'm delighted to have joined the team. The pandemic has further highlighted the important role pharmacists can play in keeping the nation healthy, not least in the delivery of the latest vaccination programme. The focus is now on pharmacists offering more clinical services, but to be able to achieve that the dispensing burden needs to be reduced. "HubRx is pioneering, our approach will transform community pharmacy. We're investing in cutting-edge technology to create an automated dispensing hub that will create capacity for pharmacists, allow them to grow and expand their skills." Matthew joins from Leeds-based corporate finance firm, Sentio Partners having also held positions with Mazars and Ernst & Young.

A second Global Covid-19 Summit will be held virtually next month for countries to discuss efforts to end the pandemic and prepare for future health threats, according to a joint statement on Monday (April18). "The emergence and spread of new variants, like Omicron, have reinforced the need for a strategy aimed at controlling Covid-19 worldwide," the White House said in a news release with the Group of Seven and Group of 20 nations. The announcement comes amid a surge of Covid-19 cases around the world prompted by easily transmissible variants of the virus. China's most populous city, Shanghai, is trying to return to normal after a nearly three-week shutdown, which, along with wider China curbs, are taking a toll on the world's No. 2 economy. The summit will build on efforts and commitments made at the first global summit in September, including getting more people vaccinated, sending tests and treatments to highest-risk populations, expanding protections to health care workers and generating financing for pandemic preparedness, the statement said.

Digital pharmacy app Charac has raised over £1 million in debt and equity, bringing total funding to date for the London-based startup to £2.5m. Pharmacy Business understands while the majority of the new finance, worth about £1.2 million, comes from the National Pharmacy Association (NPA) coffer, the remainder is put forward by a number of individual pharmacy businesses. The pharmacy sector is in a state of crisis, experiencing nearly two closures per week over the past two years, Charac said in a statement. According to data from the NHS Business Services Authority, there are now only 11,026 community pharmacies in England, the lowest number since 2015. The current crisis is attributed to escalating operational costs, a shortage of staff, and diminished government financial support.

Thornton & Ross is all set to expand its consumer healthcare offering by acquiring the well-established Opticrom eye-drops brand from Sanofi in the UK. Opticrom forms part of a wider transaction between Thornton & Ross' parent group, STADA, and Sanofi for eight local consumer healthcare brands across several countries, including Belgium, Germany, Hungary, Spain and the UK. The transaction will be financed with a combination of cash on balance sheet and existing facilities, and is scheduled to close in the fourth quarter of 2023, subject to customary approvals of relevant regulatory authorities. Opticrom Allergy 10ml bottle and 20 single doses for itchy, watery, red and inflamed eyes can be found behind the pharmacy counter, while Opticrom Hayfever 10ml bottle is available to purchase via self-selection to soothe and relieve eye symptoms of hayfever. These non-prescription medicines contain 20 mg/1ml sodium cromoglicate (2.0% w/v) and offer relief within 2 minutes.

A member of the English Pharmacy Board and RPS Assembly, Sharon Isobel Tait Buckle (also known as Sibby) has been elected unopposed as the treasurer of the Royal Pharmaceutical Society (RPS). Sibby takes over the role from Andre Yeung, whose tenure ended in June 2022. Sibby was first elected to the English board in 2012 and is the first woman to hold the post since RPS became the professional leadership body in 2010. She is already part of the Finance and Investment Committee, where RPS budgets, pensions, assets, financial priorities and performance, reserves and investment policies are scrutinised and agreed. Commenting on her new role, Buckle said: "I want to build on the great contribution made by our previous Treasurer. Over the next two years of my tenure I will monitor and challenge our financial performance, our focus on Environmental, Social and Governance factors (ESG), investment strategy and performance and our financial governance.

The Association of Independent Multiple Pharmacies (AIMp) and senior official of NHS Property Services (NHSPS) had a meeting on August 18 to review the rent policy for health centre pharmacies. Earlier, the association had sent a letter to NHSPS that was signed by pharmacies from across the sector, including single independents, pharmacy groups and members of the Company Chemists' Association. The letter outlined concerns about rent reviews and the impact of it on the co-located health centre pharmacies. Dr Leyla Hannbeck, CEO of AIMp, said: "We outlined that whilst in the past, the norm established by the industry, was to base rents for co-located pharmacies primarily based on patient list size, (and taking account of a few other factors), the industry now needs to revise the basis on which rents are determined for co-located pharmacies." The association, on behalf of the pharmacy sector, met the CEO of NHSPS and two of their senior directors (director or property management and their finance director).

Anyone who has studied the finances of an independent pharmacy business knows that money is tight. In many cases, they are perilously close to failure. It's easy to assume they are retail businesses, cashing in on the higher public profile the sector has enjoyed during the pandemic years. But those have been mere words. Certainly, the pandemic represented a halcyon period for the profession. We engendered a feeling of normality, dependable and accessible to society. We played a substantive role in keeping people out of hospitals and giving the vulnerable the ability to live independently from their own homes for longer. We mobilised to smash flu vaccination records and deliver covid jabs. But despite the warm words of a new service based future and the incessant expressions of gratitude contractors desperately need the headroom to prepare, plan and invest. Platitudes, press releases and assurances of a bright clinical future are small comfort to what is needed and that's cash on the table. As the adage goes: "Talk is cheap, money buys houses." Cashflow crisis Since 2016, we have witnessed almost 650 pharmacies fall by the wayside. Some may have merged; the majority, however, have perished due to the relentless need for an increasing cashflow. It is cash, or rather the lack of it, which is killing independent pharmacies.

The Community Pharmacy England Committee has adopted a new approach to engagement with sector by inviting all pharmacy owners to share their views on pharmacy's finances, pressures and capacity ahead of its meeting in July. It has sought views of pharmacists via short poll by Sunday (2 July) and will have a discussion on the poll results at the meeting before reporting back to the sector afterwards. The key focus for July Committee Meeting will be to make most of £645m for the community pharmacy sector, and also on the ongoing work to make the wider case for more investment in the sector. This new way of working follows association's rebrand on 30th May which signalled the start of its new approach to engagement to help them to build stronger relationships with pharmacy owners. The association hopes this new approach will help them better engage with members and listen to pharmacy's views better.

Pfizer's plan to sell its Haleon stake is not a surprise, the consumer health company's finance chief Tobias Hestler told Reuters on Wednesday (3 May). London-listed Haleon was carved out as an independent company in July and comprises consumer health assets once owned by GSK and Pfizer. Pfizer, which has a 32% stake in the maker of Sensodyne toothpaste and Panadol painkillers, told the Financial Times on Tuesday that it intends to offload that stake in a "slow and methodical" manner within months. Hestler said Pfizer has long been clear about its intention to sell off the stake, suggesting that the reason the potential of the selloff has gained traction is because the selling window opens around the time that Haleon's results are announced. "This will happen every quarter from now until they're sold off…this is just what's expected," he said, adding: "If I get a courtesy call the evening before they do it then that would be nice, but they don't even have to do that." Shares of the world's biggest standalone consumer health business were down more than 3% in early trading.