Facing 'insufficient profits,' almost 1,000 pharmacies in Lebanon are threatened with closure
Smuggling, inflation and growing competition are among the reasons for the sector’s crisis.
by Zeina ANTONIOS · L'Orient TodayKarim*, a pharmacist from West Bekaa, opened his business in 2007. Nineteen years later, he may soon be forced to close his doors. Lebanon’s ongoing inflation and a “now insufficient profit margin” to keep his business running could force the pharmacist, in his 40s, to leave the profession.“We used to live comfortably before, but today, few pharmacists are getting by, between rent, electricity, generator and other bills to pay,” he said.Just a few years ago, owning a pharmacy in Lebanon guaranteed a comfortable living. But the sector has suffered the consequences of the country’s economic collapse since 2019, particularly the depreciation of the Lebanese lira and banking restrictions on deposits, which led to months of medication shortages.Pharmacists’ profits generally hover around 22.5% per drug sold, according to professionals we...
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