Pharmacy Owner Mid-Year Check In

In January, we shared the “In” and “Out” strategies for pharmacy owners to explore in 2024. This mid-year check in takes another look at these strategies and aims to help explore if a sustainability strategy may still be valuable for implementation by year end for you and your team.

2024: A year of change and challenge
2024 has defined itself as a year of change and challenge. As pharmacy owners continue to share with us their wide range of dynamic challenges in this volatile 2024, we are hearing more and more about the surprising opportunities that have emerged as well.

For example, partners, like Richards Pharma Solutions have been attending events and expanding their professional network, after a period of irregularly attended or even hosted schedule of events.

Is there still time to adopt a sustainability strategy?
Taking a look at consumer behavioral trends and preferences may help in deciding if now is the time to adopt a sustainability strategy and help your pharmacy stand out. For example, we know that the majority of the US population continues to seek sustainable options wherever they shop. These stakeholders even report being willing to pay more for brands with sustainable sourcing and easy recycling.

Sustainability mentions, in contrast, in company filings, has dropped significantly, as tracked by Pharmaceutical Technologies (PT). PT reports a 78% drop in Q2 2024 compared with the previous quarter. According to GlobalData’s analysis of over 559 pharmaceutical company filings, only a few standouts with increased mentions have emerged. These include Recordati, with 4% year-on-year increase, and Lonza, Ipsen, Viatris and Amgen, with similar modest additional sustainable mentions.

Conversations of sustainability and strategies for implementation may have taken second seat to the regular news cycle surrounding AI. One report from TurboInnovate™ says that “AI is Here to Stay” offering a report full of the groundbreaking impact that AI is having on solving challenges, drug development, spotlighting top pharma AI innovators and future predictions.

It may be time to maintain your focus
For many pharmacy owners, it is paramount to understand the dynamics that support business growth to allocate resources and energy. Remaining adaptable, in the face of all of today’s changes and challenges, is clearly important. Trends and data points can be overwhelming, however, making it crucial to maintain a clear focus on the values that fuel your business. Partners like Blueberry Pharmacy, for example, reached a major milestone this year, and just announced that they surpassed $80 Billion in consumer savings. Their resounding commitment to their patients, values and mission, continue to drive loyalty and shared values.

If sourcing sustainable medicine packaging is still in your plans, Parcel Health can make workflow integration seamless

Do you still wish to explore sustainable packaging for your pharmacy or mail order medication delivery this year? There’s still time and it does not have to be confusing or labor-intensive. At Parcel Health, we have a fully customizable and sustainable packaging solution that is automation-ready. We can work with your team to create custom designs that can help your pharmacy stand out.

Introducing Tully Tube™

Introducing Tully Tube™, the first and only paper-based, 100% curbside recyclable pill package that is made from sustainably sourced materials and 47% compostable.

This summer, we are proud to introduce the first and only paper-based, 100% recyclable, Tully Tube. Your team can feel good about this automation-ready parcel that’s safer than plastic and can help enhance your patients mail order medication delivery experience. Let’s meet and explore how we can help your pharmacy integrate ground-breaking sustainability pill packaging into your everyday routines to help tell your unique, sustainability story.

With determination, innovation, and a commitment to excellence, your pharmacy can close this year with growth and prosperity. We are here whenever you are ready. Together we can fill medicine cabinets with safe parcels, not plastics.