Latest news 2010
Agreement for independently-owned Pharmacy Chain in Sweden under Boots brand
15 July 2010Farmacevtföretagarna and Alliance Boots have finalised an agreement today for a joint business venture in the Swedish pharmacy market. The first pharmacies are planned to open this autumn under Europe's leading pharmacy brand – Boots. The goal is to create a nationwide chain of pharmacies, owned and operated by individual pharmacy entrepreneurs.
"I am extremely pleased that we can now offer Swedish customers a pharmacy option that combines the professionalism and business skills of the individual pharmacist with the power of Europe’s leading pharmacy brand," says Lennart Axelsson, CEO of Farmacevtföretagarna.
Ornella Barra, Chief Executive, Pharmaceutical Wholesale Division, Alliance Boots, who is responsible for Boots International activities, comments: "Alliance Boots’ aim is to launch Boots as a strong and trusted pharmacy brand in Sweden, whilst continually seeking ways to offer innovative products and services to patients and consumers. We anticipate that this partnership with Farmacevtforetagarna will enable us to achieve this ambition while also supporting independent entrepreneurship."
Since Farmacevtföretagarna and Alliance Boots signed a letter of intent regarding the collaboration earlier this year, great effort has been devoted to the preparation, evaluation and provision of support for interested entrepreneurs while also making plans for the establishment of the pharmacies.
"The response from the entrepreneurs has been tremendous. Currently more than 100 entrepreneurs want to start a Boots branded pharmacy and some of them have already made good progress, which means we’ll be able to get off to a quick start. The first pharmacy should be able to open later this year," says Lennart Axelsson.
Farmacevtföretagarna and Alliance Boots are now forming a new business that is 51-percent owned by Alliance Boots and 49-percent owned by Farmacevtföretagarna. The company will be called Boots Farmacevtföretagarna AB and will provide a number of services to the Boots pharmacies in Sweden. All of the pharmacies in the chain will be fully owned by the individual entrepreneurs.
The agreement also means that Farmacevtföretagarna, which until today has been affiliated with the Swedish Pharmaceutical Association, will now separate from the association. Accordingly, the entrepreneurs will form an organization called Farmacevtföretagarna Ekonomisk Förening (Pharmacist Entrepreneurs Business Association). All entrepreneur-owned pharmacies in the chain will become members of this association, which in turn will control Farmacevtföretagarna’s share of Boots Farmacevtföretagarna AB.
