SIGMA Healthcare this morning announced the renewal of its longstanding agreement with the Pharmacy Alliance Group, covering the supply of all pharmaceutical and over-the-counter products.
The new five-year agreement, with a five-year option to extend, is expected to contribute more than $500 million in annual revenue, with Pharmacy Alliance Group comprising Sigma's largest independent wholesale customer group with a national network of over 700 pharmacies.
An ASX announcement from Sigma also informed of a debt restructuring plan involving the sale and leaseback of its distribution centre network "to release unrecognised value in land and buildings".
The update also noted ongoing action to manage the impact of COVID-19, with MD Mark Hooper saying Sigma was dealing with a big increase in volume, putting "considerable strain on the supply chain".
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