When the pharmacy chain King Soopers announced it was acquiring a drugstore chain in February, the news quickly attracted criticism from some pharmacies, who said the acquisition would cause their profits to suffer.
Now, King Sooper has released a new report that claims it will have a better deal with the pharmacy company and that the pharmacy will get a bigger piece of the business.
The company, which owns many large pharmacy chains in the US, Canada, and Mexico, says it has already seen a 25% increase in pharmacy profits in the first three months of 2019, which it expects to continue to do.
The pharmacy chain also said it will get an even bigger slice of the pharmacy business.
While the pharmacy industry has been seeing some ups and downs in the past few years, this is the first time the pharmacy companies have seen the magnitude of the deal they are making with King Soop.
It’s a sign of how much the industry is changing, according to King Soops CEO Chris Johnson.
King Soopers, which also owns drugstores like Rite Aid, Walmart, and Target, said it was able to secure a $2.3 billion acquisition offer from its largest competitor in the pharmacy and pharmacy supply chain for a pharmacy chain that is one of the largest in the country, and a chain that currently has a presence in the United Kingdom, Spain, Germany, Japan, and South Korea.
It said the pharmacy brand will grow with the addition of the King Sooopers Pharmacy brand to the King’s retail pharmacy chain, and the company will also acquire other pharmacies in the pipeline, including a pharmacy in Canada and one in Germany.
The acquisition of King SoOps, which has a pharmacy presence in more than 160 countries and accounts for nearly half of the US drug supply, comes as the pharma industry has undergone a massive shift.
In the past two decades, the number of pharmacies in stores has nearly doubled, according a study by the consulting firm IBISWorld.
But in the same time period, the market for prescription drugs has also grown substantially, with a total of more than $4.5 trillion in sales last year.
And as prescription drugs have become more affordable and more accessible, more patients have begun to use their medicine as prescribed, making it more difficult for pharmacies to offer the kinds of medications and treatments that were once a specialty.