‘Partner of Choice’ vision
April 7, 2014
Sigma has expanded on its vision
for the future of the Australian
pharmacy sector, with its 2013-
2014 Annual Review released on
Friday (PD 28 Mar) presenting
its push to be ‘Australia’s Partner
of Choice for health, beauty and
wellbeing’.
The report follows the release
of Sigma’s full year results last
week, with md Mark Hooper saying
Sigma’s strategy has been to invest
in improving its core business to
assist pharmacy customers “to cope
with the ongoing impacts of Federal
Government PBS price disclosure
reform.”
He said this would ultimately
place Sigma in a better position to
grow the Group’s future earnings
for shareholders.
Specifically, the company
has reinvested in improving
operational capabilities in areas
such as the retail offer, supply
chain and service delivery, with a
structured Professional Services
model, extended exclusive labelled
products offering and introducing a
multi-channel platform.
The report also warns of the
potential impact of changes to
the competitive landscape, with
“the possibility of competition for
wholesale services, via suppliers
choosing to bypass the existing
wholesale network.”
Sigma said that although no other
supplier has chosen to follow the
Pfizer Direct model, the group
“continues to focus on its supplier
relationships and maintains a
regular engagement program with
all key suppliers.”
The report also confirms that the
Central Healthcare acquisition (PD
27 Mar) will generate about $3.5
million in earnings for the company.
However at this stage, Sigma is
unable to quantify or disclose the
fair value of all the identifiable
assets and liablities of CHS “due
to the proximity of the acquisition
date to the reporting date.”
MEANWHILE the Sigma annual
report also reveals details of
remuneration to senior executives,
with Hooper’s total package worth
$2.5m in 2013/14 including a
$1.196m base salary, a $53,000
bonus and share-based payments
worth another $1.2m.
That was down on his prior year
package of $2.79m, which included
a $485,000 bonus.
The above article was sent to subscribers in Pharmacy Daily's issue from 07 Apr 14To see the full newsletter, see the embedded issue below or CLICK HERE to download Pharmacy Daily from 07 Apr 14
