THE Pharmacy Guild of Australia has stated that the imminent merger of Sigma Healthcare and Chemist Warehouse "poses significant questions and risks" in a statement released Thu night.
Yesterday it was widely reported, including in this publication (PD 07 Dec), that that a deal was being worked on which would see Sigma and Chemist Warehouse merge, with the latter finally listed on the ASX after previous float rumours.
This morning, Sigma Healthcare announced the extension of the current trading halt on the ASX as the deal continued to be worked on.
According to the Guild statement, significant questions and risks revolve around "patient care, community pharmacy ownership, competition, and the future of CSO wholesaling, which Commonwealth, State and Territory Governments together with regulators, like the Australian Competition and Consumer Commission (ACCC), need to urgently consider and address".
The Guild called into question the "increased corporatisation" in the community pharmacy sector and threw its support behind strengthening the community pharmacy ownership laws, citing NSW and Qld as good examples.
The Guild statement noted they were "not only strongly supported by the Guild but demonstrate that there is bipartisan support across the country to preserve patients' rights to access world-class healthcare in metropolitan, regional, rural and remote Australia through the existing community pharmacy model".
The statement went on to suggest careful scrutiny was needed of the "complex business models for compliance with community pharmacy ownership laws - laws designed to ensure that only pharmacists own, operate and control community pharmacies [and] are in the best interest of patients".
It is expected that specific details of the reverse takeover will be announced on Mon. DF
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