Fountain Pharmacy's new home
July 23, 2014
Richard for 2011

The pharmacy business is changing and it's not good news for small independent chemists ... Anita Senaratna reports 

From independent chemist to big chain: Priceline under the Rex, facing Fitzroy Gardens

AFTER more than 70 years in the neighbourhood, Fountain Pharmacy has shut up shop at its Macleay Sreet premises. It hasn't gone far - just across the road and rebranded as Priceline.

"It was not an easy decision to move it because it had been there for so long," said owner Edward Tanzil, who took over the pharmacy in 2011.

Tanzil said that external factors such as price disclosure, the growth of online and discount pharmacies and more generic medication hitting the market as patents expire were changing the face of the industry, making it much more difficult to operate as an independent pharmacy.

They've been in the same premises since 1945, but owner Edward Tanzil decided it was time for a change.

"It wasn't that we weren't doing well ... Even though we were growing in that small space, I could see in the horizon things that will have a further impact on pharmacies. I figured that if I wanted to continue and still be relevant, I had to make a change, Tanzil told Postcode2011

"[Priceline is] a wonderful group - they're Australian, they understand women, they're really good for our profession because they offer this value, they offer a range and yet they don't sacrifice professionalism or service." 

The store opened on July 3 underneath the Rex apartments and so far, so good. 

"I know that people are going to be getting that value and they're going to be getting the same service that they had before, because it's still me and my team."

People in this community don't like faceless men or big corporations; they like to be able to support local business owners. I've always thought that if you're passionate about something and you're good at it then you will be successful."

More details about the challenges facing pharmacies can be found in the Pharmaceutical Guild of Australia's pre-budget submission.

Article originally appeared on Local news from postcode 2011 (http://postcode2011.com.au/).
See website for complete article licensing information.