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MrMister

pharmacy market

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hello guys

I want to know if is it true that the profession of pharmacist will die in few years, I see that many pharmacists come from outside of Canada (specially middle east and europe) , and it's easy for them to practice, it's not like Doctors that's is very tough) so that's cause a saturation, and the salary decrease ... like it's happening now in USA...plus, the gouvernement does not stop to cut in the salary of pharmacist owner... 

what'S do you think?

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On 6/27/2019 at 9:28 AM, MrMister said:

hello guys

I want to know if is it true that the profession of pharmacist will die in few years, I see that many pharmacists come from outside of Canada (specially middle east and europe) , and it's easy for them to practice, it's not like Doctors that's is very tough) so that's cause a saturation, and the salary decrease ... like it's happening now in USA...plus, the gouvernement does not stop to cut in the salary of pharmacist owner... 

what'S do you think?

I think it all depends how many people graduate a year. Immigrants usually take lower paying jobs. Someone from India can be an Engineer and then when they come to Canada they are working for Walmart. And that is not so much as a surprise because their education does not match the requirements to practice here. 

Some immigrants are doctors because we do not have enough in some cities.

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IDK about overseas pharmacists causing the saturation, but I know pharmacy schools are (and I mean no shade) relatively easy to get into and pharmacy schools are increasing class sizes in response to qualified applicants available (rather than demand in the market), and so there's an ever-increasing supply of pharmacists and an ever-decreasing demand. This pushes wages down, obviously.

If pharmacists continue to have the same responsibilities, the profession will diminish. America has online pharmacies where you can send a picture of a prescription to have it mailed to you. Canada has yet to do this, but once it happens pharmacies will take a massive hit.

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On 9/6/2019 at 9:01 PM, notagunner said:

If pharmacists continue to have the same responsibilities, the profession will diminish. America has online pharmacies where you can send a picture of a prescription to have it mailed to you. Canada has yet to do this, but once it happens pharmacies will take a massive hit.

Wanted to Chime in here. Whoever keeps quoting this has never owned a pharmacy....or a business for that matter. Weigh 500 tablets of metformin, which is one of the most common medications on this Earth.  Then go to Canada post and select shipping, and see how the price goes up by weight. Then select "track parcel". Then you'll see the net loss that you'll rake in. Then smile, because hopefully you did not agree to ship the medication out. 

Trust me, I have actually done this.   

 

However I may have occasionally dropped the fact that I ship all low cost medications using Canada post as a ruse as an attempt to put competitors out of business. :-)

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On 10/26/2019 at 3:51 PM, GBM said:

Wanted to Chime in here. Whoever keeps quoting this has never owned a pharmacy....or a business for that matter. Weigh 500 tablets of metformin, which is one of the most common medications on this Earth.  Then go to Canada post and select shipping, and see how the price goes up by weight. Then select "track parcel". Then you'll see the net loss that you'll rake in. Then smile, because hopefully you did not agree to ship the medication out. 

Trust me, I have actually done this.   

 

However I may have occasionally dropped the fact that I ship all low cost medications using Canada post as a ruse as an attempt to put competitors out of business. :-)

How long before online pharmacies become as popular in Canada as they are in the U.S?

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18 hours ago, notagunner said:

How long before online pharmacies become as popular in Canada as they are in the U.S?

I don't really know. The ones I know of in Canada are hemorrhaging money, so most likely not for a long time unless standard shipping gets a lot cheaper, or moves towards a fixed cost model. 

Mail order customers are usually those who are on simple medications who's costs literally do not cover the costs of shipping. They are typically young individuals who do not want to go to a pharmacy. Paradoxically these mail order pharmacies also charge very low dispensing fees, which make it even more difficult to make any profit. 

Patients that are on complex medications, who technically would make good customers for mail order pharmacies don't trust having their meds sent over mail because of how quickly their medications change.

The ones that are left are patients that are young and are on high cost medication which are biologics or ART. The problem with biologics are that vast majority of them need to be refrigerated which make it very difficult to ship, and ART are so complex in terms of interactions that no one in their right mind would trust those medications be shipped by a random online pharmacy (PreP is an exception though, who will probably corner the market. They are also independently owned by an awesome pharmacist). 

Of the tiny minority that are left, they will probably go with mail order pharmacy, but with the fact that pharmacies are everywhere, all which are offering online refills, and free delivery, i don't understand why you would want to have your medications mailed to you. 

There are services in the US like Pillpack, which I question about their viability. I found it very fishy that they sold to Amazon so readily for $750 million, when they were slated to make 299 million in revenue that year with projections to double the next year and the year after. I'm assuming it's because their GP was abysmal. Their business is going to somehow going to ship med across to different states, and for reasons that I don't understand, pack each pill individually in little pouches for some insane cost, instead of putting them in cheap plastic bottles like a sane business who's goal is to not burn through shareholder money. 

 

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On 10/29/2019 at 7:21 PM, GBM said:

I don't really know. The ones I know of in Canada are hemorrhaging money, so most likely not for a long time unless standard shipping gets a lot cheaper, or moves towards a fixed cost model. 

Mail order customers are usually those who are on simple medications who's costs literally do not cover the costs of shipping. They are typically young individuals who do not want to go to a pharmacy. Paradoxically these mail order pharmacies also charge very low dispensing fees, which make it even more difficult to make any profit. 

Patients that are on complex medications, who technically would make good customers for mail order pharmacies don't trust having their meds sent over mail because of how quickly their medications change.

The ones that are left are patients that are young and are on high cost medication which are biologics or ART. The problem with biologics are that vast majority of them need to be refrigerated which make it very difficult to ship, and ART are so complex in terms of interactions that no one in their right mind would trust those medications be shipped by a random online pharmacy (PreP is an exception though, who will probably corner the market. They are also independently owned by an awesome pharmacist). 

Of the tiny minority that are left, they will probably go with mail order pharmacy, but with the fact that pharmacies are everywhere, all which are offering online refills, and free delivery, i don't understand why you would want to have your medications mailed to you. 

There are services in the US like Pillpack, which I question about their viability. I found it very fishy that they sold to Amazon so readily for $750 million, when they were slated to make 299 million in revenue that year with projections to double the next year and the year after. I'm assuming it's because their GP was abysmal. Their business is going to somehow going to ship med across to different states, and for reasons that I don't understand, pack each pill individually in little pouches for some insane cost, instead of putting them in cheap plastic bottles like a sane business who's goal is to not burn through shareholder money. 

 

Fascinating to learn, thanks for sharing. Seriously, you've changed my perspective on this. 

Btw, what's PreP? Cursory google searches give me Pre-Exposure Prophylaxis and pharmacy prep courses haha

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