Retail in brief | LloydsPharmacy, GNC

Retail in brief | LloydsPharmacy, GNC

16 February 2021 - Deborah Wilkes

McKesson is reported to be seeking a buyer for its UK operations which include LloydsPharmacy, while GNC has a new chief executive officer and chief financial officer.

LloydsPharmacy may be divested

Media reports suggest LloydsPharmacy-owner McKesson is seeking a buyer for its UK operations.

Sky News said US-based McKesson had hired bankers to explore a sale of its UK operations and prospective bidders had been contacted in recent weeks.

It was unclear, said Sky News, whether all of McKesson’s UK operations would be included in any sale.

LloydsPharmacy operates around 1,500 pharmacies across the UK, employing more than 17,000 people.

In addition to the LloydsPharmacy retail chain, McKesson UK operates pharmaceutical wholesaler AAH, the John Bell & Croyden pharmacy business, LloydsPharmacy Clinical Homecare, LloydsPharmacy Online Doctor and Masta Travel Health.

At the time this News story went to press, McKesson had not responded to a request from OTCToolbox to comment on the Sky News report.

GNC has new chiefs

GNC has appointed a new chief executive officer and chief financial officer following its recent acquisition by China’s Harbin Pharmaceutical Group.

Josh Burris has been promoted to chief executive officer. He joined the US-based health, wellness and performance retailer as chief US officer at the end of 2019, and most recently held the position of president.

The new chief financial officer is Cam Lawrence who joined GNC in 2019 as senior vice president finance, chief accounting officer, and has acted as interim chief financial officer for the past few months.

GNC filed for Chapter 11 bankruptcy protection in June 2020 and was acquired by Harbin (click here to read the News story).

The company says it now has a “right-sized portfolio” and “clean balance sheet”.

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