The Australian pharma giant Chemist Warehouse, which sells pharmaceuticals and lifestyle products, is in the advanced stages of testing expansion into the Israeli market. This is good news for Israeli pharma, which is dominated by companies such as Super-Pharm, Good Pharm and Be from Supersol.
Israeli Director-General of the Ministry of Economy and Industry Dr. Ron Malka spoke this week with Jack Gantz, chairman and co-founder of Chemist Warehouse as part of the expansion process.
"Another chain willing to enter Israel after import reforms were implemented is an important step to increasing competition in the Israeli market.Minister of Economy and Industry Orna Barbivay
The process began following the initiative of the Ministry of Economy and Industry and the economic attaché of the Ministry in Australia. The chain serves approximately 120 million customers in more than 500 physical stores with extensive online activity in Australia, New Zealand, Ireland and China.
The French retail chain Carrefour was the first European pharmacy to actually enter the Israeli market. Prices of pharmaceuticals along with toothpaste, shampoo, diapers and other cosmetic products in Israel are markedly higher than in Europe.
The impact of foreign markets in Israel
Minister of Economy and Industry Orna Barbivay said, "Another chain willing to enter Israel after import reforms were implemented is an important step to increasing competition in the Israeli market.
"This is also an important step toward import reform, the benefits of which will be passed on to Israeli consumers and lead to lower prices."