SIGNIFICANT challenges lie ahead for the pharmacy industry, according to Teva Pharmaceuticals Vice President, APAC Cluster Head and General Manager for ANZ, Jim Margaritis (pictured).
Speaking to Pharmacy Daily, Margaritis warned that pharmacies around Australia are likely to face supply chain issues due to lower medicine prices.
"Community pharmacists are also contending with recruitment and retention pressures in rural and remote areas, which can limit access to essential services in underserved communities," he said.
On a more upbeat note, Margaritis acknowledged the recent announcement made by Health Minister Mark Butler at the Pharmacy Guild Annual Dinner, which introduced a new Master of Pharmacy program granting the title 'Doctor of Pharmacy' (PD 25 Nov 2024).
The Teva Pharmaceuticals leader hailed the move as a "significant step forward in expanding pharmacists' scope of practice".
He also spoke to Pharmacy Daily about the intregral role of pharmacists to the healthcare system as whole, as well as Teva Pharmaceuticals.
"Their accessibility and expertise make them essential in managing health concerns, from minor ailments to managing chronic conditions," Margaritis said.
"We see pharmacists as key partners in ensuring patient awareness, understanding, and adherence to treatments, and we look forward to continuing to build strong collaboration to benefit patients," he added.
When it comes to Teva Pharmaceuticals' strategy for 2025, Margaritis revealed the company will continue to implement its 'Pivot to Growth strategy' globally.
Teva will also focus on key initiatives locally, including the launch of an innovative treatment for motor neurone disease, as well as expanding its high-impact generic launches.
"We'll also leverage the pioneering work of our world-class R&D Centre of Excellence at Macquarie Park (Sydney) to drive innovation and growth," he told Pharmacy Daily.
"It's an exciting time ahead, with the potential to drive meaningful advancements in healthcare and create a lasting impact on patient outcomes."
Check out the full interview in Pharmacy Daily's 2024 Year in Review report here. JM
The above article was sent to subscribers in Pharmacy Daily's issue from 08 Jan 25
To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 08 Jan 25
