A challenging and changing outlook
The Australian retail pharmacy industry is facing a challenging outlook. Efforts by the government to slow down the rapid growth in the cost of delivering the Pharmaceutical Benefits Scheme have to begun to have an impact on pharmaceutical dispensing revenue. At the same time retail pharmacy's approach to market is also being questioned and disrupted by rapid growth in big box pharmacy discounters. As the window of 'windfall' profits form generic medicine closes, retail pharmacies must adopt new strategies to position themselves in a challenging future. In this paper we examine the forces of change currently facing retail pharmacies and explore the options for responding to these challenges.
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