It has been observed that Canada’s super largest drug store chain have been going through with a lower profit for the second quarter and continues to fight with the deep cuts in the reimbursing rates of generic drugs(Copy of a brand-name drug, such as Generic Viagra, Generic Cialis, Generic Medicines and etc.) set by government. It is the Shoppers Drug Mart Corp. that reviewed of the earnings that declined 3.2 percent to $118 millions, with a 54 percent share. These are the facts and figures for the three months.
The last year’s quarterly profit helped them gain around $12 million in one-time, however this was on the sales lease back of retail properties. However, as per the expectations of analysts, the profits declined and company experienced a slide down in the second quarter as well. The sales rates grew for around 2.7 percent to $ 2.3 billion. This was because, the consumers preferred buying increased number of cosmetics and no prescription drugs.
The company said front store sales; everything was sold out of the actual pharmacy that rose to around 60 percent to $ 1.2 billion. Some sales for such items rose with 4 percent.
According to the Shopper’s chief, they have been observing a high promotion of consumer environment, this will help us focus and monitor marketplace. However, with the turning up of generic products, the sales figures of brands have declined from 0.4 percent to $1.150 billion.
During the quarterly period, generic grains symbolized around 56.6 percent of prescription dispensed this is bit increased in comparison to 53.2 percent in the same period for the last year.