What are the financial facts of the matter ? Can anyone provide a volume estimate ? Westfarmers and Chemist Warehouse seem to have detected that there are rivers of gold that are flowing through the sector and want some. The sign in my local chemist says that each pharmacy will suffer a $170 000 downturn in turnover if scrip medicine changes from 30 to 60 days supply dispensed. I suspect that with the advent of many many new drugs approved over the past 15 years the number of scrips dispensed has gone into the stratosphere and the original dispensing fee has held constant. Hence the gold. In todays Sydney Morning Herald of 17.6.23 page 26 we have the article about the Pharmacy Guild's talking head Trent Twomey who is a loud promoter of the status quo. He co owns 13 chemist shops so is hardly a dispassionate observer. The rivers of gold have donated to the political parties $310 000 to Labor and $267 000 to the Coalition Generous don't you think ? What can they want ? It would be obscene if there is no change to new circumstances.
The banks over the past 20 years have adapted to new technology and closed branches. Latest development is the disappearance of many cash dispensing machines. Sure it is a bit inconvenient but I survived.
Any enterprise that doesn't embrace change is destined to wither away.
COO is heading in a new direction . We don't know the exact outcome but the signs are good.
COO Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
