Mounjaro and Wegovy demand helps Chemist4U sales double
Increasing demand for weight-loss jabs such as Mounjaro and Wegovy has helped sales at the firm behind online pharmacy Chemist4U almost double.
The Skelmersdale-based business has reported a turnover of £59.5m for the year to 30 September, 2024, according to new accounts filed with Companies House.
The latest total comes after the firm behind Chemist4U achieved a turnover of £30.1m in the prior 12 months.
The results also show its pre-tax profit jumped rom £1.6m to £3.6m over the same period.
Chemist4U is part of JCCO Healthcare, which also includes the weight management platform myBMI.
The latest accounts for JCCO Healthcare show its turnover also surged from £30.8m to £63.1m and its pre-tax profit grew from £1.6m to £5m.
Mounjaro rollout on the NHS starts
The results have been published on the same day as the mass rollout of weight loss jabs on the NHS in England began – with GPs now allowed to prescribe the drugs for the first time.
Around 220,000 people with “greatest need” are expected to receive Mounjaro, also known as tirzepatide and made by Eli Lilly through the NHS over the next three years.
The drug is an antidiabetic drug which lowers blood sugar levels and and slows down how quickly food is digested.
From today (Monday, June 23), GPs in England will be allowed to prescribe Mounjaro to severely obese people who also suffer from a range of other health problems.
Patients previously needed to access the drugs through a special weight loss service.
In the first year of the programme, the drug will be offered to people with a body mass index (BMI) score of over 40 who have at least four other health problems linked to obesity, such as type 2 diabetes; high blood pressure; heart disease; and obstructive sleep apnoea.
Estimates suggest around 1.5m people in the UK are already taking weight loss drugs, which may have been prescribed through specialist weight loss services or via private prescription.
NHS pressures boost Chemist4U
A statement signed off by the board said: “Continued downward pressure from central government on NHS funding and therefore the NHS pharmacy incomes, combined with inflationary pressures on raw material costs and sustained competition in the second continue to create margin pressure.
“The directors, however, consider the company’s financial position and performance to be satisfactory given the current economic fundamentals within the markets in which the business operates.”
The results come after Bolton-based Pitalia Capital invested £12m in the company in 2023.
The firm is an equity investment company funded by Anil Pitalia, founder of SpaMedica, and specialises in healthcare and manufacturing.