Lloyds parent confirms plans to 'fully exit' Europe

News

Lloyds parent confirms plans to 'fully exit' Europe

In News

LloydsPharmacy parent McKesson is to sell several of its European operations to German pharmaceutical giant Phoenix and has confirmed it wants to “fully exit” Europe.

McKesson announced the transaction on Wednesday July 7, with its businesses in France, Italy, Ireland, Portugal, Belgium and Slovenia to be acquired by the Phoenix group.

McKesson’s UK operations such as LloydsPharmacy are not included in the deal, and for the time being will continue to be run by the US company, along with its businesses in Norway, Austria and Denmark.

However, McKesson said it is “committed to exploring strategic alternatives for all remaining European businesses,” with CEO Brian Tyler referring to “exploring a strategic path forward to fully exit the European region”.

“Today’s transaction marks an important step in advancing McKesson’s commitment to streamline the business and prioritize investments in the areas where we have deep expertise and are central to our long-term growth strategy,” said Mr Tyler.

LloydsPharmacy has struggled in recent years, recently reporting that in 2019-20 it made a £175m loss despite attempts to manage costs through closing and selling many of its stores. However, it’s online dispensing arm has grown rapidly during the pandemic and announced earlier this week that it has surpassed 500,000 patient nominations.

Record my learning outcomes

News

Inspiring stories related to health, fitness and the pursuit of wellbeing

Share:

Loading...

Recommended Learning

bookmark icon off
Sponsored education

Oral rehydration: a pharmacy guide

Understand the important role oral rehydration products play in helping prevent dehydration after illness

5 Min Module

Sponsored education

Dry eye consultations

Work through a customer consultation to determine the possible cause of stinging, gritty eyes and recommend an effective treatment to help ease these symptoms.

15 Min Module

bookmark icon off
Sponsored education

Supporting customers with haemorrhoids

Learn how to help customers ease the discomfort of haemorrhoids with suitable recommendations and self-care advice

5 Min Module

bookmark icon off
Sponsored education

Managing fever in children

Get to grips with the current guidance on managing fever in children and how antipyretics can help, and discover products you can recommend.

10 Min Module

bookmark icon off
Sponsored education

Skincare training for pharmacy

Delve into dry skin management and understand how you can make a difference to customers looking for advice, support and product recommendations to help manage their compromised skin.

15 Min Module

bookmark icon off
Sponsored education

How to advise on head lice

Despite them being so common, many people still don't know how to get rid of head lice. This training will arm you with the facts so that you can help customers choose the best treatments and answer their questions with confidence.

15 Min Module