PHARMABASKET, a new peer-to-peer online marketplace for pharmacists and suppliers will formally launch next month, with the aim of helping deal with unwanted S3 and S4 stock items.
Founded by pharmacist Nicholas Balfour, PharmaBasket allows the listing of excess, near-expiry, slow moving and end-of-line stock, with a fully integrated e-commerce platform allowing transactions to be settled within 48 hours of a sale's confirmation.
Balfour said PharmaBasket was "dedicated to improving efficiency in dispensaries, middle-of-shop and warehouses by reducing stock loss".
He said the platform uses dynamic pricing to automatically devalue stock dependent on shelf-life to give a recommended listing price.
Stock is currently being listed on the site by pharmacies and suppliers in the lead-up to the site going live on 01 Sep 2018.
Apotex has been confirmed as a foundation generic pharmaceutical supplier, which will be listing stock when the site becomes active.
Pharmacies and suppliers can register on the site prior to an authentication process taking up to seven business days, and thereafter can begin to list items on the site.
Initially any schedule 4 medications will be able to be listed, but at this stage no delivery option is available via the PharmaBasket marketplace, with sellers required to arrange cold chain supply.
No S8 medicines can be listed on the site, but in the near future there will be an option to list front-of-stock as a "classified listing".
There is no fee for listing stock or for registering on the site, with a 6% commission applied to each transaction (ex GST) with a minimum fee of $3 per transaction.
A "platform" fee is also charged to the buyer by PharmaBasket, ranging from 30c to $1.80 depending on the transaction value.
Balfour said the platform "creates a network of pharmacies and suppliers with the same values and goals to eliminate stock loss...as this network grows, the marketplace grows with it and becomes more valuable to all users".
For more information email support@pharmabasket.com.au.
The above article was sent to subscribers in Pharmacy Daily's issue from 27 Aug 18
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