PHARMA RETAIL. Photo shows a hospital-based pharmacy in Cebu. Medicine retailing has seen a robust demand since the pandemic started, being an essential establishment during the lockdowns. The pharmaceutical retail industry is projected to grow further, as a large portion of the market remains underserved. (Photo courtesy of UCMed)
CEBU CITY – The pharmaceutical retail business in the country is still poised for further growth and is expected to open more employment opportunities in Cebu, a retail company said on Tuesday.
The projection was made by Robinsons Retail Holdings Inc. (RRHI) as it announced the opening of its 870th drugstore, a new Rose Pharmacy outlet, in Lapu-Lapu City, Cebu.
“We are confident that there is still room to grow in Philippine pharma-retail as a large portion of the market remains underserved," Christine Tueres, group general manager of RRHI’s drugstore segment, said in a statement.
Gokongwei-led RRHI acquired 100 percent of Cebu-based drugstore chain Rose Pharmacy Inc. in 2020 from Mulgrave Corporation B.V. (MCBV), a wholly-owned subsidiary of Dairy Farm International Holdings Ltd.
Rose Pharmacy offers customers quality options for medicine and personal care, including its in-house brands Rose Pharmacy Generics and the Singapore-based Guardian Pharmacy line of personal care products.
Holding company’s president and chief executive officer Robina Gokongwei-Pe said that since the acquisition of Rose Pharmacy in 2020, they have seen various possibilities in further shaping the drugstore portfolio to address current and relevant customer needs.
“Health is always important to everyone but even more so now that we are in a pandemic," Gokongwei-Pe said in the same statement.
RRHI’s foray into the drugstore business started in 2012 with the acquisition of Southstar Drug.
In 2016, RRHI acquired TGP, the country’s largest franchised network of community drug stores specializing in generic and affordable medicines.
Driven by RRHI’s omnichannel strategy and in response to the coronavirus pandemic, Southstar Drug and Rose Pharmacy's e-commerce sites offer greater convenience to customers through order and delivery services. (PNA)
