The epidemic of Covid-19 has resulted in a surge in pharmacy sales
“Pharmacy, as a sector, generated a significant increase in profile as it became the frontline of primary care.”
Community pharmacists and their teams are vital healthcare providers during the outbreak; they remain on the frontline of public health by serving as direct points of access for their patients. Hospital pharmacists have an important role during the outbreak in infection control as well as patient care and support
According to pharmacy broker Tony Evans, the coronavirus pandemic has resulted in an 11 percent rise in the sale of pharmacies when compared to the same period last year.
“While the pandemic had an impact on contractors and their pharmacies, especially in the early days of lockdown, the pharmacy market has continued to perform strongly,” said Evans, also Christie and Co.’s head of pharmacy.
Christie and Co informed Independent Community Pharmacists that the increase in sales was fueled by “high levels of interest” from those looking to expand their pharmacy business as well as first-time buyers since the pandemic began in March.
Mr. Evans stated that the pandemic’s “heightened visibility” “contributed to interest from parties currently outside the industry wishing to engage for the first time”, such as “private equity and private family offices.”
“Sales and acquisitions have been influenced by the pandemic since remote working techniques modified the rate at which deals might develop”, he added when asked how Covid-19 has affected pharmacy acquisitions.
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