Chemist Warehouse sales, profit surge ahead of ASX debut

Carrie LaFrenz and Jemima Whyte

Updated Mar 21, 2024 – 4.46pm, first published at 10.47am

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Sigma Healthcare has pointed to its improved turnover as proof that its merger with Chemist Warehouse will not stifle competition in Australia’s pharmacy sector, and it hopes to secure the competition regulator’s approval in the second half for their $8.8 billion listed giant.

The ASX-listed drug wholesaler and Chemist Warehouse revealed a friendly plan to merge in December. The deal requires the approval of the Australian Competition and Consumer Commission, which started a consultation in March. The Pharmacy Guild opposes it.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.

Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years.