Shoppers Drug Mart to Extend Store Brands to Prescription Drugs

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May 11, 2010

Shoppers Drug Mart plans to extend its store brand business to include generic drugs to keep consumer prices low.

The Canadian chain of 1,234 stores currently sells assorted store brands in the household and health and beauty care categories under the Life Brand banner “We want to have private label generics,” CEO Jurgen Schreiber said during the company’s annual meeting last week. “It will reduce generic costs further.”

Shoppers Drug Mart also plans to offer shelf-ready prescriptions, another cost-cutting initiative that would also reduce consumer waiting time. “Many popular types and sizes could come already packaged instead of wasting pharmacist’s time counting pills,” the company said in a Toronto Star report.

The only drawback to the plan is Ontario residents will be unable to participate in the Shoppers Mart programs because the province’s proposed drug reforms do not permit store brand pharmaceuticals, according to the report.

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Keywords: business, companies, drug, food and beverage, industry, markets, private label drugs, shoppers drug mart, store brand drugs

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