IMS Health used data from the NHS, the Pharmaceutical Services Negotiating Committee and its own records to identify the pharmacies which would be most impacted by the funding cuts (see image below).

Most of these are located in London, IMS Health director of supplier relations Carol Alexandre pointed out.

It identified these businesses by combining the 10% least profit-generating pharmacies, with those which rely on the dwindling establishment payment for 20% of their gross profit, Ms Alexandre told the Sigma conference in Rio de Janeiro yesterday (February 15).

While this information doesn’t take account of labour costs, rent and rates, IMS believes it is still a “robust analysis”, she said.

Of these 315 “high risk” pharmacies, 200 are within a 10-minute walk of another pharmacy, Ms Alexandre stressed.

IMS Health's analysis also revealed 2,400 pharmacies in England are at “medium risk” of closure – as they rely on the establishment payment for 15% of their gross profit, she added.

IMS has identified 315 high risk pharmacies, most in London. Will they be the cuts' first victims? #sigmario pic.twitter.com/HZyagk8Gtg

— James Waldron (@CandDJamesW) February 15, 2017

What is the impact if the 315 high-risk pharmacies identified by IMS close? #sigmario pic.twitter.com/rf7oGksqrc

— James Waldron (@CandDJamesW) February 15, 2017

Catch up with all the latest coverage from the Sigma conference in Rio with C+D's Storify here