Raising the stakes

Super Pharm emerged triumphant in late August in its legal battle with the Pharmacy Board of TT over the use of its name. Pharmacy Board officials subsequently visited the company’s pharmacy in Westmoorings last Monday and expressed their satisfaction with what they saw.

Sobrian said he was optimistic that it would receive its licence by the end of the week.

Once that happens, Sobrian said Super Pharm hopes to be able to open its Westmoorings pharmacy before the end of September.

The pharmacy is already fully stocked with non-pharmaceutical items such as toothpaste and shampoo and once Super Pharm receives its licence, it will be able to bring in its stock of pharmaceuticals. As it stands, Super Pharm’s Westmoorings outlet is just "waiting to be opened," Sobrian said.

Super Pharm is also constructing pharmacies in Valsayn and Gulf View in La Romaine and has other locations under consideration.

The idea of Super Pharm was born in 2002 when four young local investors — Sobrian, Peter George Jr, John Aboud and Joseph Rahael, son of Health Minister John Rahael — got together and started brainstorming, looking for ideas and opportunities in the country’s retail landscape.

Sobrian said they found what they were looking for when they looked at the local pharmaceutical sector.

According to Sobrian, there was significant untapped potential in the sector, with the majority of the pharmacies being small businesses whose services were limited to certain areas.

"Then the idea came up, what about the US style, big box pharmacy format," he said in an interview with Business Day at the company’s offices at the Chootoo Industrial Estate in El Soccorro last week.

With that concept in mind, the investors attended a pharmacy conference in Philadelphia in 2003, where they met US pharmacist, Dr Bob Coopman, who Sobrian said has considerable experience in the field.

Coopman was sold on the idea of a US-style pharmacy being established in TT and has been the group’s consultant ever since, playing an integral role in the design of the new pharmacies and other key aspects of their operations.

Sobrian dismissed the suggestion that Super Pharm was some kind of pharmaceutical monopoly or affiliated to any major US pharmaceuticals outfit.

"That is not correct. I came up with the name Super Pharm," he said.

Sobrian said Super Pharm is a totally "homegrown" pharmaceuticals company built on local ideas and run by local management. Both Aboud and Rahael, he said, are skilled in the retail and real estate businesses while George Jr is a successful businessman as the owner of the popular Port-of-Spain sports bar, Trotters.

Sobrian said each investor brings their own unique skill to the Super Pharm enterprise, noting that they have invested start-up capital of $6 million into the company.

Allegations of impropriety in 2003 involving the Chronic Disease Assistance Programme (CDAP) and legal issues with the Pharmacy Board of TT regarding the pharmacy’s name, were identified by Sobrian as Super Pharm’s biggest challenges to date.

The CDAP allegations raised by the Public Service Association (PSA) at that time, centred around the fact that Joseph Rahael was the son of incumbent Health Minister John Rahael.

Sobrian said the reality is that when the Super Pharm investment hit the ground in 2003, Rahael (John) was Agriculture Minister. Colm Imbert, who is now Works Minister was Health Minister at the time. Under Rahael (John), CDAP was made universal in scope in 2004; approximately 130,000 persons have benefitted from CDAP since its introduction.

Sobrian recalled that during the CDAP furore in 2003, Super Pharm took some hits but it was able to weather the storm.

"In terms of suppliers, bankers and business community, nobody took it on," he said.

On claims that Super Pharm invested millions of dollars to benefit from CDAP, Sobrian described this as "statements made by people who don’t understand business."

He explained that Super Pharm will serve all CDAP customers and said he sees CDAP as a good initiative by the State to cater to the health care needs of the society.

In his view, CDAP cuts a pharmacy’s profits since the medication is provided at no cost to the patient. He added that he knew of some pharmacies which do not participate in CDAP because it was not profitable.

Even so, Sobrian reiterated that Super Pharm will participate in CDAP "because it is a public duty." Asked where the drugs were going to come from, he said the company will be getting it through local agents and distributors.

Is TT ready for Super Pharm? "I would say, yes. We are seeing it already. People are preparing for the entry of Super Pharm," the CEO said.

He said the other pharmacies are currently expanding and upgrading their operations and are placing greater emphasis on improving customer service. Super Pharm’s pharmacies will have several new features, including a 24-hour drive through window which will allow persons to purchase their medication at any time of the day.