Jacob Baxter, the owner and founder of this online pharmacy, expressed his opinion about the developmental process of My Canadian Pharmacy. He has planned to enrich the product list. The service rate is going to be improved as well.
Good day, Jacob, why have you established an online service at the moment a lot of the pharmaceutical companies either go bankrupt or limited its turnover?
I was always interested in pharmacy retail. First of all, it was caused by its permanence and balance. At the moment we launch our online pharmacies, my team and I have a clear understanding of which sphere we should “conquer”, with whom we will become competitors. The rate of possible risks will be also assessed. There are no doubts we spend too much time to work out this project. We have conducted several research programs showing us the experience of other companies having opened online pharmacies. We orient our business in an honest and clear relationship with customers and partners. Our main aim is to share our professional knowledge. The practical experience of developing a pharmaceutical business in Canada brings our clients only benefits.
When the comparison was conducted it was confirmed that our Canadian pharmacy has no aim to force customers to buy expensive medications. We work out a definite plan by means of which both parties will benefit. According to the statistical data, the previous 1.5 years show the increase in turnover of our online service.
The format of this pharmacy is characterized as the shopping in the comfort of your home. As a result, we become prosperous and suitable for citizens in both cities and small towns. Previous headers have not counted a common mistake: your business won’t work if you do not make any efforts. The motto of our online pharmacy is to provide an outstanding service for our customers. As a result, we work out towardly possible discounts and bonuses which help us achieve our main aim.
What do you achieve in 2017?
According to statistical data, our company took one of the leading places among Canadian pharmacies in 2017. At the present moment, our company provides medications for more than 100 countries. Our service gains an outstanding reputation worldwide. We are sure our customers rely on us. This indicator is important and significant. It underlines we may everything right. Our teammates have arranged a genuine software program that allows us to compare and control the costs of other online services. We constantly monitor pricing policies and try to work out the most competitive price. A proper and well-arranged system of all business processes within My Canadian Pharmacy brings us the leading places in the Canadian pharmaceutical market. It also helps us fix this leading position.
What are your future plans?
We are not ready to share our plans with you. We do our best to meet all the customers’ needs. The only thing I can say is that My Canadian Pharmacy will continue the development of our brand in bringing customers benefits. We are going to expand the borders of our performance as more and more discount pharmacies appear in the pharmaceutical company.
We believe strong relationships with our partners and drug manufacturers will help us achieve the main aim. Now we cooperate with 3 main drug manufacturers. We prefer using prepayment options as one of the most leading company in Canada. Unfortunately, in 2018, there may be some changes in the assortment as we exclude certain companies from the partners’ list.
Can you predict something about the pharmaceutical market development?
The pharmacy retail market in Canada is one of the 3 greatest pharmaceutical markets worldwide. Prior, the Canadian pharmaceutical market was dependent on imports. More than 70% of pharmaceutical products were produced and imported by foreign manufacturers. However, Canadian authorities decide to change this situation considerably. We cannot predict how this will influence customers and other pharmaceutical company including ours.
Canadian pharmacy retail market also expects a number of changes. These changes are related not only to the processes of consolidation or takeover but also to questions of tax forms and regulation of control over rates for medications. The pharmacy market in Canada is imposed to negative decisions as well. The most important disadvantage is the problems in the legislation of quality control of medications. There are high obstacles to penetrate into this sphere. As a result, it decreases the number of competitors. Finally, it strengthens the monopoly in the retail pharma market.