Pharmacy2U posts £16m loss for 2018-19

Latest

Pharmacy2U posts £16m loss for 2018-19

In Latest

Online pharmacy business Pharmacy2U saw a 41 per cent increase in revenue to £60.7 million for the year to the end of March 2019 (2018: £43.2m), but still posted a loss of £16m for the year.

Loss before interest, tax, depreciation and amortisation increased by £4.4m to £14.4m as a result of “significantly higher investment in NHS acquisition marketing”. LIBTDA before marketing costs was £2.7m, according to its annual report for 2018-19.

The number of NHS prescription items dispensed rose 80 per cent to 5,322,000 in 2018-19 from 2,957,000 in 2017-18, while the number of NHS patients registered with Pharmacy2U rose 21 per cent to 331,000 (273,000 in 2017-18).

The group reported significant progress was made during the year to reduce operating costs through scale and operational efficiencies, which largely mitigated the impact of the reductions in NHS reimbursement.

Pharmacy2U was established as the UK’s first internet pharmacy in 1999, and now claims to be the country’s largest NHS contracted online pharmacy. The group secured a £40m equity investment in 2018 led by private equity firm G-Square Capital. The investment is being used to fund a second automated dispensing facility.

The group’s core strategy is focussed around providing a fully managed repeat prescription delivery service. The annual report says the group expects profitability to increase through the remainder of this financial year and beyond.

Record my learning outcomes

Latest

Inspiring stories related to health, fitness and the pursuit of wellbeing

Share:

More like this

bookmark_icon_off
Latest

Pharmacy teams could soon be wearing transparent masks

The DHSC said the masks could be used by staff when talking to deaf patients who need to lip-read and dementia sufferers.

1 Min Article

bookmark_icon_off
Latest

One in 50 scripts need to be modified by pharmacists

Community pharmacists modify almost one in 50 prescriptions to avoid a potential drug-related problem (DRP), according to a Dutch study.

2 Min Article

bookmark_icon_off
Latest

More than 1 in 10 pharmacists told not to wear PPE, says PDA

More than one in 10 pharmacists have been asked to re-use PPE, with similar numbers saying they were actively discouraged from wearing it. 

3 Min Article

bookmark_icon_off
Latest

Covid treatment for people who can't have vaccine on horizon

People who can't have a vaccine because they are immunocompromised may get access to a Covid-19 treatment.

1 Min Article

bookmark_icon_off
Latest

Cutting costs leads to profit boost for Lloyds parent company

LloydsPharmacy parent company McKesson saw a 16 per cent profit rise in its European division in the most recent financial quarter.

2 Min Article

bookmark_icon_off
Latest

RPS: Every pharmacy should stock naloxone

Overdose treatment naloxone should be available from every community pharmacy in Scotland, the Royal Pharmaceutical Society has said.

3 Min Article

Recommended Learning

bookmark_icon_off
Sponsored Education

OTC Omeprazole tablets 20mg: an opportunity for pharmacy

This module highlights a new opportunity to treat heartburn and reflux in the pharmacy with Omeprazole 20mg, which is newly available for customers to purchase OTC.

22 Min Module

bookmark_icon_off
Sponsored Education

The person behind the patient

This interactive video will introduce three patients with erection problems (EPs) and ask you to work out what the causes might be and how you can help.

5 Min Module

bookmark_icon_off
Sponsored Education

Understanding the impact of dry skin conditions

Learn about the emotional impact of dry and eczema-prone skin, and confidently recommend products for skin treatment and maintenance.

15 Min Module

bookmark_icon_off
Sponsored Education

Learning Resources Pyrocalm

Use these training materials to be confident recommending PPIs to help customers suffering with heartburn and acid reflux, and understand the opportunities OTC omeprazole 20mg offers both customers and pharmacies 

bookmark_icon_off
Sponsored Education

Relief from the nasal symptoms of allergy

With NHS England advising that OTC products should no longer be prescribed to treat mild-to-moderate hayfever, pharmacy’s role in supporting sufferers is more important than ever. This module includes self-care advice and product recommendations to aid customer conversations.

15 Min Module

bookmark_icon_off
Sponsored Education

Digging deeper into EPs

Explore the interactive brain to learn about psychological causes of EPs

8 Min Module