The Development Bank of Wales this week (January 21) announced that it has provided a “six-figure loan” to part-fund the “fit-out” of Towyn Pharmacy.
The new community pharmacy is part of an initiative by contractor Naeem Anjam to “develop a network of pharmacies throughout North Wales”, the bank said.
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“With a dispensing contract from NHS Wales, it offers all NHS and some private services, [as well as] independent prescribing for common acute conditions,” it added.
The new pharmacy will also offer “opportunities for independent contractors to rent any one of its three consultation rooms and a competitive retail selection”, it said.
Pharmacist Anjam, who runs both the new pharmacy in Towyn and Moelwyn Pharmacy in Blaenau Ffestiniog, said he “fell in love with North Wales when doing locum work in 2016”.
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“Community pharmacies are such an important part of life for people of all ages so I’m very grateful to the development bank for offering me its support,” he said.
“We now have a team of ten across the two pharmacies and I hope that we’ll be able to expand further as opportunities arise,” he added.
It remains unclear exactly how much funding was provided to the pharmacy.
“Growth in the region”
Development Bank of Wales senior investment executive Scott Hughes said that “it is great to be able to support Anjam with his plans to provide easier access to pharmaceutical services for the community of Towyn”.
“Our hope is that both locals and visitors that require a chemist will benefit from Towyn pharmacy and we look forward to supporting Anjam with his plans for further growth in the region,” he added.
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The six-figure loan is part of the Wales Business Fund’s £216 million investment into small and medium-sized businesses, the development bank said.
The fund is managed by the bank – which is a wholly owned subsidiary of the Welsh government – and closed at the end of 2023, it added.
It comes as a man has been found guilty of sexually assaulting one woman and directing “remarks of a sexual nature” to another while conducting medical examinations at two pharmacies.
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The Welsh government told C+D last month that a pilot scheme making HIV drug pre-exposure prophylaxis (PrEp) “more accessible” via community pharmacies is set to begin in autumn 2025.
And legislation that came into force in Wales at the end of November means that pharmacy professionals are no longer free to perform tattooing, body piercing, electrolysis and acupuncture without a license.
Meanwhile, pharmacy brokers this month revealed that some 68% of UK pharmacy owners want to buy or sell in 2025 – with 50% saying they felt “negative” about the upcoming year in pharmacy.
