Pharmacy Daily | Middle-man platform to trade dead stock

ETHICAL Exchange is filling a gap in the market as a "middle- man" platform designed by pharmacists for pharmacists.

Founder and a pharmacist Alan Ayoub said the platform allows pharmacies to connect with others to conduct their own stock trade.

"Many pharmacies in Australia have dead or unwanted stock due to poor stock control, or an inability to connect with other pharmacies, which led me to create this platform to give them the opportunity to trade their stock," Ayoub explained.

"This in turn benefits pharmacies who choose to sell their unwanted stock by reducing their overall expenses.

"Logistics of transactions are dealt off platform and via email or phone between pharmacies.

"Our goal is to be environmentally friendly.

"It's to reduce pharmaceutical waste by transporting as many unused and sealed medications to be dispensed by another pharmacy who needs it, before they otherwise expire and end up in the RUM (Return Unwanted Medicines) bin."

Ethical Exchange is a free platform to use, and zero commission is charged on stock sales.

Currently there are over 200 pharmacies registered, with the aim to reach 1,000 this year.

Learn more HERE.