Pharmacy chain expects dip in earnings

THE company which owns the Unicare pharmacy chain has written down the value of its Irish assets by €85 million and expects a significant decline in operating earnings this year.

Unicare is owned by German pharmaceutical group, Celesio and operates around 60 chemist shops in Ireland.

In a statement yesterday it said: “The Irish government has drastically lowered reimbursement prices for prescription medicines as well as pharmacies’ remuneration at mid-year 2009.