Gross Profit Margin Increasing for Independent Pharmacies, Census Data Suggest
Census data suggest independent pharmacies continue to do well.
I often get in trouble with some readers when I cite Adam J. Fein’s Drug Channels blog. Even though it might happen again, I found his take on the US Census Bureau’s recently released Annual Retail Trade Report very encouraging.
Back when I started my pharmacy career, I was told the best thing to keep pharmacist salaries high is a strong independent pharmacy community. The Census data suggest independent pharmacies continue to do well, as the gross profit margin from both prescription and non-prescription product sales increased in 2013 to the highest gross margin reported since 2006.
This is great news for all of us in pharmacy.