Report claims pharmacists enjoy 33% profit margin

WITH a profit margin of 33%, Irish pharmacists enjoy the highest profit margins on medicines anywhere in Europe, a controversial report claims.

The independent study by Declan Purcell, a senior Competition Authority official, claims pharmacists have an average retail margin of 33% on all prescription drugs.

Mr Purcell, the authority’s director of advocacy, said the price of medicines in Ireland was significantly higher than other EU countries, despite the fact that the pharmacy sector is less heavily regulated in the Republic than elsewhere.