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Lloydspharmacy had eye on Co-op pharmacies

Lloydspharmacy was not "upset" at missing out on the Co-operative deal, says parent company Celesio UK MD Cormac Tobin

Parent company Celesio UK MD Cormac Tobin said he “would have liked to have had another network of stores”, in an exclusive interview with C+D

EXCLUSIVE

Lloydspharmacy's parent company would have liked to have bought the Co-operative's pharmacies, it's managing director has confirmed to C+D.


The Co-operative Group sold its 771 pharmacies to UK-based food wholesaler Bestway in a £620 million deal in July, amid reports that Lloydspharmacy and Alliance Boots had put forward bids.


Celesio UK managing director Cormac Tobin would not confirm whether it had made an offer, but said the multiple "would have liked to have had another network of stores". "I can't say I went for the Co-op but let's say...we didn't get it," Mr Tobin said in an exclusive interview with C+D last week (November 20).


Everybody who missed out on the deal would have been disappointed but his company was not "upset" by Bestway's successful bid because Lloydspharmacy was "moving forward at a very rapid pace", Mr Tobin stressed.


"I'm very happy that our business thinking is [progressing]. Whether we've got 500 more stores or not, it doesn't really matter [for] where we're going to go," he said.



Mr Tobin praised Bestway as a "new competitor" with a "very good track record" from its convenience store and banking businesses. The company's background from outside of the pharmacy sector meant it was more likely to implement change, he said.


Mr Tobin said he believed that Lloydspharmacy's focus on pain management, as well as Celesio UK partnering with independents through a virtual pharmacy network announced in July, was a "very successful one". "We want to impress upon [independents] how good we can be for giving them solutions," he added.


In July, a legal expert warned that successful bids from Alliance Boots or Lloydspharmacy for the Co-operative Pharmacy could have been investigated by the UK's competition regulator to ensure they did not restrict consumer choice.  


How would the sale of the Co-operative's pharmacies to Lloydspharmacy have affected the sector?

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10 Comments

Mohammed Shabir, Community pharmacist

this company is probably the worst multiple in my opinion in the wayit treats its pharmacists, with regard to pressure and resources. thank god for the co-op pharmacists they didnt get them.

SP Ph, Community pharmacist

It would be rather interesting to know which Pharmacy is not under the scanner of the LLOYDS group ???

Sami Khaderia, Non healthcare professional

Lloydspharmacy's parent company would have liked to have bought the Co-operative's pharmacies, it's managing director has confirmed to C+D.

I think this removes the myth that there is no money in Pharmacy.

My neighbours cat would also have liked to buy A Pharmacy

London Locum, Locum pharmacist

Its seems there is lots of money, it's just all concentrated at the top hence £10 per hour pharmacists. Pharmacy is no longer a profession as far as I'm concerned.

Sami Khaderia, Non healthcare professional

The contractors cry wolf......there is no money......

METFORMIN X 84 TARIFF PRICE £4

WE BUY A BOX WHICH HAS 500 TABLETS FOR £5

Thats just one example.....

N O, Pharmaceutical Adviser

""WE BUY A BOX WHICH HAS 500 TABLETS FOR £5""

By law if you do not endorse what you have dispensed, then you have committed a fraud.

Ryszard Cygan, Superintendent Pharmacist

One more question. From a business point of view, do you ACTUALLY understand why a company like Lloyds would buy a company such as the Co-op? Oh, it's not to do with the price of Metformin!

Sami Khaderia, Non healthcare professional

If you are not happy with the money , sell up or shut up!!!!!!!!!!!!

Ryszard Cygan, Superintendent Pharmacist

Once again, what are you on about???

Firstly, no one tells me to shut up or sell up for that matter.

And who mentioned happiness or money?
I was merely balancing out your pathetic argument.
I notice you did not post a reply to my next question - Foxed you, has it?
Oh, and it has nothing to do with cats!?!?!?!?!?!?!?!?!

Ryszard Cygan, Superintendent Pharmacist

OK. So what are you trying to prove?

You forgot to mention

MSD - 7% discount
Chiesi - 7% discount

Clawaback on average pharmacy - 10%+ = 3%+ loss

But to name two Manufacturers which covers MANY products. Not just one.

Give a balanced view next time!

Oh, and the clawback also applies to Metformin

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