CVS Pharmacy, one of Australia’s largest drug retail outlets, has announced it will open its first pharmacy in Sydney’s CBD, in October.
Key points:Pharmacy owner Richard Smith has secured $150 million in financing for the projectCVS’ founder and chief executive officer, Richard Smith, said the project would be a catalyst for the industryThe project will be the first in Australia to have an open-air pharmacyCVS announced it would be opening the pharmacy in the city’s CBD from October.
Mr Smith said the opening would mark a significant shift in the way pharmacies are run in Australia.
“Our pharmacy will open to a new generation of customers, and we believe it will transform the way that we work,” he said.
“This is a real paradigm shift for the pharmacy industry, which has traditionally been focused on being in the community and offering people the convenience of shopping online.”
Now it will be an opportunity to offer people the best pharmacy experience in Sydney, as well as offering them a great experience at home.
“We believe it’s a great opportunity for the future of the industry, and are excited about its potential to transform how we deliver health services.”
Pharmaceuticals retailing empire, CVSPharmacies are expected to become increasingly important in the health care sector, as the pharmaceutical industry grows in size.
In addition to being one of the largest pharmacy chains in the world, CVC has more than $1.5 billion in annual revenue, and it owns more than 40 per cent of the entire Australian pharmaceutical market.
Mr Brown said the company was confident the project could be a great success.
“It will be a tremendous catalyst for our industry, to be able to expand our supply chain and to make sure that the products we sell are as good as they can be,” he told the ABC.
“The pharmacy will be one of those new retail sites in Sydney that we believe will create jobs and opportunities.”
Pharmacists have traditionally worked as a team to make deliveries, but that is changing with the opening of a new pharmacy, which will provide better service.
“When the pharmacy opens, we’re going to have a team of pharmacists who will be able do a lot of the work that they normally do, which is delivering medicines and medication,” Mr Smith said.
He said the process of being part of a team was vital for success, but he hoped the project was a catalyst to the industry.
“What we have here is a very important opportunity to give people a choice in the future,” he explained.
“There’s a lot more opportunities in pharma than there is in retail pharmacy, but we’re trying to find those opportunities, and I think it’s going to be an incredible change.”
Topics:pharmaceutical-invention,health,health-policy,healthcare-facilities,healthpolicy-and-practice,health—industry,southeast-asia,nsw,sydney-2000,nagurna-2150,syDEL,australiaFirst posted September 30, 2020 10:00:54Contact Alex O’BrienMore stories from New South Wales