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In reply to: ManjiLad on Wednesday 08/03/06 11:24pm

Seems there was concern about the appointment of a new Chief Fincial Officer.The Company has responded that the business is meeting expectations and that the appointment is appropriate in view of growth.Seems no need for the drop yesterday which reversed today.

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In reply to: hieronymus on Thursday 09/03/06 12:18pm

Thanks Hierony,

Daniel "ice cream" Lucas is the culprit!

His resume looks impecible and just the man API need! Life can be confusing sometimes eh!I might have to watch API a little longer!

But the current 5% bounce up may also be Daniel "ice cream" Lucas fault!!!!!


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In reply to: ManjiLad on Thursday 09/03/06 12:38pm

Could be a double bootom.

But the gov't is also trying to lessen the load in the health budget which impacts on prescriptions.


This is a big problem with a trend to generics being what the gov't wants.

I think this could be a big problem, for all non-generic pharmaceuticals.


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  • 3 weeks later...

Well API got the "pensioners" speeding tick which resulted in a minor bounce(4+%)!

I also note that coles bought a baby pharmacy chain in Sydney to play with ... I wonder what WOW is up to .... they are NEVER beaten ...... so could API be a chance t/o at these low prices ..... wholesale/retail packed up ready for the "daily farm grown fresh drugs"!! Any thots? I don't know how tightly API shares are held but I will take a look.



Please do your own research and avoid my mistakes-Up2U!

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In reply to: ManjiLad on Friday 31/03/06 12:39pm

API takeover.????

They have spent a fortune reorganizing themselves for the future,....and hired a prominent ex health minister to assist them as a director.

A major shareholder is SOUL Pattison Family. Do you really think theya re going to let Coles or WOW get their hands on their baby....just because the market is beating them down.

Now is a good time to wait out this difficult time for pharmaceuticals....wait for a turnaround, if one comes, and buy in. Myself I left when they dropped below $2.50.... http://www.sharescene.com/html/emoticons/grrr.gif but looking to see better times in the future...and I don't want to see another takeover by the big boys pushing the working class around (by this I mean the pharmacists)





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In reply to: DRUGGIST on Saturday 01/04/06 01:14pm

Coles takes pharmacy holding




Stephen McMahon

April 1, 2006

Related coverage


* STEPHEN BARTHOLOMEUSZ Coles Myer uses pharmacies' back door




RETAIL giant Coles Myer is positioning itself to exploit any changes in government regulations banning supermarkets from operating in-store pharmacies, following its $48 million purchase of Pharmacy Direct.


Coles Myer and Woolworths regard supermarket-based pharmacies, similar to those operating in the US and Europe, as offering a lucrative opportunity for revenue growth.


In recent years, Coles Myer has been privately lobbying the Federal Government to deregulate the almost $7 billion market in retail prescription medicine.


Woolworths has been leading a more public campaign. It argues that in-store pharmacies could save shoppers $500 million a year on prescription drugs.


Pharmacy Direct's annual sales of $44 million and its 430,000 customer base are split evenly between sales from its retail warehouse outlet in western Sydney and online orders. Coles Myer aims to expand the online and mail order business beyond NSW and Queensland into a more national business.


Coles Myer chief executive John Fletcher telephoned federal Health Minister Tony Abbott yesterday morning before the sale was announced to make sure the deal was not going to cause any political fallout.


The bill protecting the country's 5000 pharmacies from supermarkets opening in-store pharmacies until 2010 has already passed the House of Representatives and is due to go to the Senate.


Mr Fletcher said the deal would put Coles Myer in a strong position if the market was deregulated. "We fully understand and accept the current regulations," he said.


"This acquisition simply enables us to develop a good understanding of the pharmacy business within the existing rules, something that will put us in a good position if the regulations change in the future."


Coles Myer was able to buy Pharmacy Direct because of a quirk in the regulations that, under a "grandfather" clause, allows about 30 pharmacy licences in NSW to be owned by companies. The licence requires a qualified pharmacist to operate the store.


The national president of the Pharmacy Guild of Australia, Kos Sclavos, said Coles Myer was trying to turn medicine into another commodity.


"The focus is on minimising cost to Coles, reducing wages, reducing interaction between professional pharmacists and patients ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâہ¡ÃƒÆ’‚ cutting costs and maximising shareholder returns," Mr Sclavos said.


The Australian Consumers Association, which supports the introduction of a trial program for pharmacies in supermarkets, welcomed the deal as good news for shoppers.


Coles Myer shares closed up 12ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ at $10.70 yesterday.


â–  Coles Myer buys Pharmacy Direct for $48 million.


â–  The Pharmacy Guild criticises the move, but the Australian Consumers Association supports it

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In reply to: tilford on Saturday 01/04/06 03:24pm

I might add that as a Pharmacist with my own business I fully support this move by the supermarkets!!

Pharmacists these days have to deal with a totally antagonistic Pharmacy Board and a Pharmacy Guild which does little to support pharmacists, charges exhorbitant fees for the pleasure!!!!!

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