Throughout 2025, as we predicted, pharmacy transaction volumes remained relatively high, with a number of larger groups and multiples continuing to divest underperforming or non-core branches as part of strategic reviews. Many smaller, independently owned groups also adopted similar approaches. Ongoing financial pressures across the sector contributed to a noticeable rise in bank-driven or administrator-led sales, further increasing the number of opportunities available on the market. These attracted interest from buyers keen to turn around and add value to these potentially struggling businesses.

During the year, 30% of Christie & Co’s transactions were to first-time buyers, demonstrating that the smaller and more local buyers see opportunities in the marketplace, and we see no reason for this not to continue for the foreseeable future.

The Pharmacy First service, introduced in England in early 2024, has now delivered nearly five million consultations in its first year. Pharmacy Minister Stephen Kinnock has acknowledged that while implementation challenges remain, Pharmacy First has not yet realised its full potential, but has committed to evidence-based policy development and ongoing sector engagement. His leadership, alongside the parliamentary contributions of Sadik Al-Hassan and Taiwo Owatemi, has helped elevate pharmacy’s role in the wider healthcare system. New Chair of the All-Party Pharmacy Group (APPG), Sadik Al-Al-Hassan, in particular, has been vocal in calling for immediate funding settlements and long-term reforms, including the implementation of hub-and-spoke dispensing and expanded clinical services.

As we begin 2026, there is cautious optimism that the sector is finally being recognised for its critical role in delivering accessible, community-based healthcare. The challenge now lies in ensuring that this momentum is sustained and translated into long-term structural support for pharmacy teams across the UK.