Planet Pharmacy plans to open 750 outlets by 2012

Planet Pharmacy, a Dubai-based pharmacy retailer, is set to launch 250 pharmacies across the UAE and more than 500 in Saudi Arabia by 2012, making it the largest pharmacy chain in the Middle East.

The company, which is a joint venture between Julphar and the private equity division of Global Investment House, will open pharmacies in Dubai and Abu Dhabi by December.

The pharmacies, to be named Health First, will be launched with the objective of growing to be the market leader in the pharmaceutical retail business across the region. Planet Pharmacy was formed in December 2007 with a capital of Dh900 million.

"Planet Pharmacy and its Health First stores have a vision of becoming the biggest and most trusted pharmacy brand in the Middle East within the next three years," said John Makepeace, Chief Executive of Planet Pharmacy.

Planet Pharmacy has been running a test store in Fujairah since the beginning of the year, with the market research gained from this outlet providing vital consumer information and feedback that will be implemented into stores across the region over the coming months. The company has already started its operations with 130 pharmacies and clinics under various names, which will eventually be combined under the Health First umbrella.

By the end of this year, up to10 Health First outlets would have been launched in the UAE and also test outlets in Saudi Arabia. Planet Pharmacy's retail offer will include a mix of prescription and over the counter drugs, cosmetics and other health products.

Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here.