In June, Oriola initiated cooperation negotiations to increase efficiency within the company. As part of the process, also Kronans Apotek's pharmacy network was reviewed in Sweden. This has now resulted in a decision to close nine pharmacies by the end of the first quarter of 2020.
“I would like to emphasize that these closures are not affecting pharmacy services in rural areas or in the areas where there is only one pharmacy,” says Anders Torell, Vice President of Business Area Consumer at Oriola. “Pharmacy market is changing fast in Sweden, mainly due to online competition. Declining customer base is one key driver for pharmacy closures. This is a process that is constantly ongoing, but which we now have accelerated.”
In parallel with closures, Kronans Apotek also opens pharmacies in attractive locations and during 2019 we are opening seven pharmacies in total.
Restructuring is part of Oriola Corporation’s 20by20 Excellence programme announced in February 2019. The programme’s target is to deliver 20 million euro annualised savings compared to 2018 cost level. Savings are expected to materialise with full effect by the end of 2020.
Read more details from stock exchange release about Oriola finalising cooperation negotiations.