API CEO says direct supply is costing tens of millions
Exclusive supply by manufacturers has cost Australian Pharmaceutical Industries (API) about $33 million in revenue.
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