API CEO says direct supply is costing tens of millions

He won’t say if group is competing for Chemist Warehouse account

Exclusive supply by manufacturers has cost Australian Pharmaceutical Industries (API) about $33 million in revenue.

Priceline

This emerged at the half-year results presentation for the wholesaler, which also owns Priceline, Soul Pattinson Chemist and Pharmacist Advice.

In response to a question, API managing director and CEO Richard Vincent said: “Across the industry, you’d would be north of $100 million of revenue that’s left the channel.”

And API’s share of this would be about a third, he said.

CSO wholesalers were continuing

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