Nearly 1 in 6 pharmacies may close within the next year, CPE report warns

A new report from Community Pharmacy England (CPE) has raised alarms about the severe financial challenges plaguing pharmacies across the sector, threatening
their ability to provide even the core services for their patients.

The findings are based on responses from over 6,100 pharmacy owners and 2,000 pharmacy staff who participated in the recent Pharmacy Pressures Survey 2024.

The report reveals that spiralling costs and increased workloads, coupled with a 30 per cent funding cut in real terms since 2015, are putting countless pharmacies
at risk of closure.

“Nearly 1 in 6 may close within the next year,” the report revealed.

A vast majority (94 per cent) of pharmacy owners reported that they have seen significant increases in costs, with almost two-thirds (64 per cent) saying they are
operating at a loss.

Concerningly, these financial pressures are now affecting patient care, as 18 per cent of pharmacy staff reported severe impacts.

The survey revealed that most pharmacies are experiencing longer prescription dispensing times (86 per cent), delays in responding to patient inquiries (80 per cent),
and less time to spend with patients (79 per cent).