February Pharmacy Article - Taking advantage of Generic Substitution
Pharmacy – Taking advantage of Generic Substitution.
As branded products come off patent, manufacturers will have to develop more positive relationships with pharmacists. Mark Griffiths, chairman of Cambrian Alliance, a buying group for independent pharmacists, believes that generic substitution may lead to income growth for retail pharmacists.
As they aim to retain market share, pharmaceutical companies are likely to make every effort to promote their products by dropping their prices or pushing their own generic versions in competition with generic manufacturers. It is also likely that some manufacturers may do deals with pharmacists to dispense the branded product when the generic has been written on the prescription, in order to make up the difference in price, he claims.
Managing stock levels within the retail pharmacy however requires careful planning which is why a carefully designed dispensing environment which takes account of all the aspects of this important working environment is an essential. For help in this area call us on 0844 357 8485 or email sales@kenrand.co.uk
