5 Things in ePharmacy You Need to Know This Friday 19/08/22

Aug 19

Financial Results [🇺🇸]

US-Based CVS Health’s “Digital First Strategy” Flourished in The Second Quarter of 2022

Since CVS Health, America’s largest pharmacy chain, repositions itself as a community health destination, its "digital first approach" is claimed to have added over 45M new digital customers during Apr-Jun in its customer base and MinuteClinic. The goal of the company's ongoing service expansion is to increase engagement and personalization. The pharmacy’s specialty mail order or retail pharmacies accounted for 60% of new digital customers, demonstrating how well they implemented their omnichannel strategy.

ePharmacies Are Entering the Market of Reduced Medication Prices by Offering Generics

A growing number of ePharmacies are working to provide price transparency as part of a bigger initiative to lower meds prices, at least in the generics sector. Cost Plus Drug Company, owned by Mark Cuban, already offers lower prices for generic meds. For a flat fee of up to $300 per year, the ePharmacy platform DiRX announced a subscription model that provides unrestricted access to more than 1K generic meds. Although pharma behemoths dominate the market, smaller ePharmacies try to change that.

Brazilian Raia Drogasil Surged with a 22% Gross Revenue Growth in the Second Semester of 2022

In Q2 ’22, Brazilian-based Raia Drogasil (RD), announced impressive results with a net income of $66.5M, up 48.2% over the same period last year. This is a positive indicator, given RD's aggressive expansion strategy and expenditures in its online business, inflation is anticipated to continue to be a prominent theme for the company this year. The upward trend in gross revenue for the third quarter is encouraging, according to RD executives, though it might not match the 22% of the second quarter.

Read More: Forbes [article in Portuguese]. Google Translate in English here.

New Alliance [🇩🇰]

Verdane's Investment & Guidance will Assist Denmark's Apoteka Strengthen Its Position

Apoteka, the full-service tech, marketing, and fulfillment partner to ApoPro Online Apotek, Denmark's #1 ePharmacy, has received funding from Verdane, an eCommerce investor. Verdane's investment will help Apoteka achieve its goals of expanding its market share, strengthening its brand and logistic abilities, and facilitating better access to pharmaceuticals and other goods. Verdane will draw on its knowledge from its investment in Farmasiet, a full-service Norwegian ePharmacy to support Apoteka.

Read More: Exciting Commerce [article in German]. Google Translate in English here.

Editor’s Choice [🇨🇦]

By Incorporating Doctors, Digital Advice & Health Items Canadian MedNow Is Shaking up The ePharmacy Sector!

By becoming a pan-Canadian ePharmacy with its top pharmacy app, specialized pharmacy services, telemedicine assistance, and strategically situated fulfillment centers across Canada, MedNow is shaking up the Rx medication market. In addition to telemedicine and ePharmacy, Mednow also provides doctor home visits and walk-in clinics. With 50% of Canadians willing to use ePharmacies, Mednow has experienced triple-digit growth for 3 straight quarters and continues to expand rapidly.

Manufacturers & Retailers Hiring Now:

Discover actively recruiting positions in the ePharmacy Industry below:

eCommerce Sales Analyst, Perrigo [🇬🇧]
More info: LinkedIn
Omnichannel Lead, Sanofi [🇳🇴]
More info: LinkedIn
Digital Strategist, MSD [🇨🇿]
More info: LinkedIn
Digital Media Lead, Bayer [🇺🇸]
More info: LinkedIn
B2B eCommerce Platform Specialist, Pierre Fabre [🇧🇪]
More info: LinkedIn

Quiz: Are you an ePharmacy Wizard?

Every week a new trivia question will be asked to you regarding general facts related to the Pharmaceutical sector!

How old are the origins of pharmacy?

Since mankind
Since caveman
Since ancient Egypt
Since ancient Greece

Scroll down to the end of this email to reveal the answer.

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The answer to this week’s quiz is: Since mankind. As old as mankind itself, pharmacy has been used to treat illnesses and lessen suffering for people for a long time. Since the dawn of civilization, people have drawn inspiration from the natural world to employ plants as therapeutic agents, developing the first medicines in the nascent fields of what would later become pharmacy.

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