Pharmacy Pulse Report Q1 2022

Pharmacy sector survey

The 2021 edition of the Irish Pharmacy Index was released by the Irish Pharmacy Union (IPU) and Behaviour & Attitudes (B&A). Among other findings, the survey found public support for expanding the role of pharmacies is very strong, with 95% favouring pharmacists being allowed to prescribe medications for minor ailments.

Labour market shortages

A survey of over 1,000 pharmacists, conducted by the Irish Pharmacy Union (IPU) with the support of Behaviour & Attitudes (B&A), has shown that it is taking an average of five months to fill vacant positions in pharmacies. The IPU is calling on Government to increase the availability of third level places in pharmacy as a growing shortage of pharmacists is becoming a major threat to community healthcare.

Rising prices

Inflation in the Eurozone rose to a new high of 7.4%, with energy prices remaining the biggest contributor to accelerating prices, rising 44.7%. Core inflation, which excludes volatile factors such as energy but also food, alcohol and tobacco, remained stable at 3.2%.

Pharmacy market activity

McCabes pharmacy announced the acquisition of Finnstown pharmacy and Newcastle pharmacy, both in Dublin. McCabes employs over 300 staff, and following this acquisition now operates 28 stores across Dublin, Dundalk, Kildare, Wicklow, Wexford, Tipperary, and Limerick

Drug shortages

As the economy reopens after the pandemic, supply chain issues are starting to be felt in the sector. Pharmacists are calling on Health Minister Stephen Donnelly to allow them to dispense alternatives to hormone replacement therapy (HRT) to address the current shortage of the drug used to manage menopausal symptoms.