Pharmacists 'forced to ‘remortgage’ to settle bills’

PHARMACISTS are using personal savings and remortgaging their homes to keep their businesses afloat, with experts warning financial struggles have left many in the sector “teetering on the brink".

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It comes as a survey found almost four in 10 pharmacies are unable to pay bills for medication on time. Pharmacy leaders have urged the Government to increase funding for services to secure the long-term sustainability of the industry.

The poll by Community Pharmacy England (CPE), which included the views of 800 pharmacy owners, or around 4,300 pharmacies, found 45% have relied on personal savings or remortgages to subsidise their pharmacy in the last year, while 37% were unable to pay wholesaler bills on time.

Only 6% said their pharmacy is profitable, while more than half (51%) said they were losing money.