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Pharmacists in Wales are facing serious financial difficulties as operating costs soar, forcing some to accumulate significant debt in an effort to keep their businesses running. One such pharmacist, Tunde Olawoye, who has owned a pharmacy in Ceredigion since 2020, has amassed £145,000 in debt. He worries about his ability to pay staff salaries each month and has even considered selling his business in New Quay. However, the proceeds would not cover his bank loans, leading him to decide to try and make the pharmacy profitable again rather than selling at a loss. Olawoye emphasizes the need for greater investment in the profession, stating, “They need to invest more in the profession because we are the frontline of health in this country.”
Many pharmacists across Wales have reported their expenses increasing dramatically, with some selling life-saving medications such as aspirin at a loss. According to the National Pharmacy Association (NPA), about 60% of pharmacy owners in Wales have had to remortgage their homes or utilize personal savings in the past year just to stay operational. Gwawr Jones, a pharmacist from Barry in the Vale of Glamorgan, described the rising costs due to inflation and drug prices, while funding remains stagnant. Jones detailed paying £3.75 for aspirin but only receiving a reimbursement of £3.05 under the current Welsh government funding agreement, resulting in a 70p loss per box dispensed. She noted that occasional drug concessions at the end of the month provide some offset but are unpredictable and insufficient to cover increasing expenses like national living wage hikes, insurance premiums, and energy costs.
Veteran Newport pharmacist Geoff Thomas, with four decades of experience in the sector, warns that the situation is worsening and feels like the industry in Wales is “heading off a cliff” without urgent reform. He explained that pharmacies are now forced to purchase drugs at prices higher than the reimbursement they receive through the drug tariff, leaving almost no margin to cover staff wages and delivery expenses. Thomas also pointed out that pharmacies are becoming busier as patients are redirected from general practitioners to pharmacies to reduce pressure on the health service, which, while beneficial, increases staffing needs without a corresponding increase in income. He lamented, “We want to do the services and we want to look after our patients. But the current structure of how we’re reimbursed has not changed.” Thomas has even resorted to taking out a short-term loan of £70,000 to keep his business afloat in recent months.
The NPA’s latest survey highlights that 40% of pharmacies in Wales were unprofitable in 2025, leaving many owners “clinging on by their fingertips.” Welsh board member David Thomas urged the government to act, stating, “It is simply unsustainable and unfair to expect individual pharmacy owners to remortgage their house and dip into their pension pot to subsidise the cost of prescriptions and to keep their doors open for their patients.” In response, a Welsh government spokesperson affirmed their recognition of community pharmacies as a vital part
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