A reported 25% of the Algarve’s pharmacies are insolvent or have official charges over their assets (penhoras), according to a statement from the National Association of Pharmacies.
The study released today shows that the number of pharmacies in Portugal that are insolvent, or that have penhoras attached to their assets, continues to rise with a five year increase of 145% showing the financial difficulties the sector faces.
The National Association of Pharmacies says the dire position that one in four of its Algarve-based members is facing, calls into question the geographical coverage offered and the public's access to medicines.
In the Algarve, 25.2% pharmacies are suffering financially, compared to 16.8% in 2012.
The association says that pharmacies are committed to working with the government on this problem which is affecting thousands of Portuguese customers and calls into question national access to medicines.
Comments
Liveaboard's pharmacy could not move out of area without impacting on the pharmacies owned and run by other important local families. Not a brilliant way to run local economies but this is southern Europe !
He was also constrained from moving his business to a more prosperous area, and was essentially being forced into bankruptcy.
His solution to the problem wasn't legal, and made national headlines when found out.
Portuguese pharmacies have to make the bulk of their profits by selling other items; sunscreen, shoes, and "alternative" meds that are not price-controlled.