Sigma Pharmaceuticals has signed a new five year wholesale supply and services agreement with SmarterPharm, effective immediately.
SmarterPharm is a membership-based organisation that provides services and buying capability to support more than 80 independent pharmacies nationally.
The agreement is expected to bring around $40 million in annual revenue to Sigma.
Mark Hooper, Sigma CEO, said it was pleasing to be able to consolidate its partnership with SmarterPharm over the long term.
“Sigma is a real believer in the community pharmacy model, which this partnership with SmarterPharm cements even further, and will bring mutual benefits for both parties,” Hooper said.
SmarterPharm CEO, Karen Duncan, said it is becoming increasingly challenging for independent pharmacies in this market, so this is an important agreement for our SmarterPharm members.
“It entrenches our partnership with Sigma that enables us to benefit from accessing enhanced professional services support, better buying and an improved product range,” Duncan said.
Sigma Pharmaceuticals operates pharmacy chains Guardian, Amcal, and last year acquired Discount Drug Stores.