Waverley Pharma Acquires US based Pharmacy

Waverley Pharma Inc., a Canadian pharmaceutical company, announced the acquisition of C&R Pharmacy on September 18, 2024, for a total consideration of US$450,000. An additional payment of up to US$60,000 may be made after one year, contingent on the pharmacy meeting specific performance metrics. This acquisition aligns with Waverley Pharma's strategy to generate immediate revenue while continuing its focus on drug development. Larry Thiessen, the CEO, expressed optimism about supporting C&R Pharmacy's commitment to excellent customer service in the local community. The decision to finance the acquisition using existing working capital reflects Waverley Pharma's confidence in the pharmacy's potential for growth. C&R Pharmacy is recognized for its dedication to improving patient healthcare experiences, which complements Waverley Pharma's broader mission in the pharmaceutical sector. The acquisition is expected to enhance Waverley Pharma's operational capabilities and market presence in the U.S. This strategic move comes at a time when the pharmaceutical industry is facing various challenges, including regulatory hurdles and competition. By acquiring a pharmacy, Waverley Pharma aims to mitigate some of these risks while expanding its revenue streams. The company is also aware of the inherent uncertainties in the market, which could impact future performance. Waverley Pharma's management has indicated that they will continue to monitor the performance of C&R Pharmacy closely. The acquisition is seen as a step towards achieving long-term growth and stability in a competitive landscape, while also ensuring that the pharmacy maintains its high standards of customer service.