PHARMACARE CEO Glenn Cochran has been watching the sale of Blackmores closely, noting a rise in international ownership of complementary medicine companies.
"Throughout the courting process, it's been overseas investors who have shown the most interest, the latest being Japanese drinks company, Kirin Holdings," Cochran noted.
"With another of the top players in complementary medicines, Swisse, already owned by China's H&H Group, the sale of Blackmores would make PharmaCare Laboratories the largest Australian-owned VMHS (vitamin, mineral & herbal supplement) company.
"The sale of Blackmores is still provisional, but once it goes through it will be interesting to see what changes impact Australian pharmacists."
Further, with the decision to allow 60 day scripts, the relationships between VMHS sales teams and independent pharmacists are more important than ever, as the front of store plays a greater role in the viability of small businesses, Cochran explained.
"When infrastructure is local, we're perfectly positioned to take on this profit challenge.
"From one Australian business to another, what you need now is a team, and we are as invested in your business as you are."
He added the sale of Australian brands overseas can impact local pricing, availability, innovation, and distribution "only time will tell if that happens in this instance".
"As next in-line to be Australia's largest locally-owned VMHS company, we'll be watching closely.
"For PharmaCare, defiance is in believing in the opportunities we could have globally, from our Australian-owned heartland.
"Being Australian-owned does matter as it provides a deep understanding of the consumer mindset, the ability to be agile and respond quickly to consumer needs, and handle everything from marketing, sales to manufacturing of our 27 Australian-owned brands," reiterated Cochran.
With a complementary medicines industry market size of A$5.5b in 2022 (the biggest portion being in vitamins and dietary supplements of A$2.6b), PharmaCare has invested heavily in an 85-person pharmacy sales team.
He added that pharmacy has been a central tenant of PharmaCare's success in its 38-year history, and "will remain so as we see other companies sold overseas".
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