FRANKFURT (Thomson Financial) - Celesio AG's DocMorris subsidiary will have built up a network of 100 German franchise pharmacies by the end of November, reaching a goal initially set for year-end, the head of DocMorris Ralf Daeinghaus told Financial Times Deutschland.
DocMorris, which sells drugs via the Internet, should see 2007 revenue increase by at least 22 pct to between 210 mln eur and 220 mln, Daeinghaus said.
DocMorris and other German retail companies including DM, Plus and Schlecker are getting ready to buy German pharmacies, in expectation of the European Union's planned move to quash a German law that only allows certified pharmacists to own pharmacies and that limits the number of outlets in a pharmacy chain to four, the paper said.
DocMorris did not include the right to buy pharmacies in its contracts with franchisees, but it plans to own pharmacies once German law permits it, Daeinghaus said. ludwig.burger@thomson.com lb/mas/slm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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