The Competition Bureau has approved the sale of 10 Shoppers Drug Mart locations to McKesson and Pharmasave, as a portion of a condition of Loblaw’s takeover of the pharmacy.
Seven of the 10 Shoppers locations will be sold to independent pharmacists in Ontario and Alberta that operate under the McKesson banner. The three locations that will go to Pharmasave are located in Atlantic Canada.
In order to fulfill its requirement by the Competition Bureau, Loblaw must still sell four locations to complete the transaction. Earlier this year, Loblaw sold 14 stores and nine in-store pharmacies.
“Competition generally leads to lower prices for consumers, as well as more consumer choice, a wider range of service options and increased innovation,” said the Competition Bureau in a statement.
