2 20 per share from sigma nc, page-18

re: woolies the one Why are major pharmacies joining Priceline then when API also has competing retail operations (Price Attack) sometimes in the same shopping centres. Don't underestimate Woolies ability to run with a Franchise system as an initial play in Pharmacy until ownership rules relax. Independant Pharmacists today are competing with Corporations already that have no better motives than Woolies have. Pharmacists are not naive and can see the developing ownership masquarade. Older Pharmacists are moving out the ownership demographics are rapidly changing as are retailing strategies. Not necessarily in the best interests of the cas for Pharmacist Only Ownership. Look around.

Woolies would love to show that they can operate Priceline Pharmacies effectively and ethically within the current ownership rules and I am sure they could make it very attractive to young Pharmacists who have no hope of early entry into ownership.

Let me ask the question. If I replaced the name 'Woolies' with 'Boots' (and don't ever discount that they may try to enter the Australian Market again at a suitable time) would you have the same emphatic opinion about API lasting two months. Could Boots put up a case to relax ownership rules? I think they would have a good show.

Just to explain where I am coming from. I am playing the Devils Advocate here. I am an API shareholder, a Pharmacist with 35 years experience, owned a pharmacy, worked for a Pharmaceutical Manufacturer/Wholesaler. I am an advocate for "Individual Pharmacist Ownership" not "Corporate Chain Pharmacist Ownership" and certainly not Woolies or Coles. I don't believe current or future Govenments funding policies will support long term survival of many smaller independant pharmacies which is a great shame because they are the best service/healthcare providers to communities.