According to ABC News on December 11, Australian pharmacy chain Chemist Warehouse and tobacco giants are competing for the market share of pharmacy vapes.
The competition stems from new regulations introduced by the federal government. The new law closes many small vape sales outlets across the country and restricts the sale of all vape products to pharmacies, whether or not they contain nicotine. At the same time, disposable vapes are banned and flavors are restricted. However, despite pharmacies having the upper hand in policy, many pharmacists are still reluctant to sell these products on their own or at all. According to Senate estimates, only 3,500 vapes without prescriptions were sold in the first month of the new regulations.
Liber Pharmaceuticals is expected to become a market leader with its Nicovape Q product and strong shareholder background, including Chemist Warehouse and The Strategic Counsel. A strong network of relationships gives the company access to the country’s largest pharmacy chains and suppliers. Liber’s website says its Nicovape Q product is the only nicotine vape product supplied by pharmaceutical wholesalers Symbion, Sigma and API, giving the company access to 5,500 pharmacies in Australia.
In Australia, Philip Morris International has been targeting smaller, established pharmacies with its VEEV brand of vapes. Last year, it was reported that the company offered an 80% profit margin in exchange for supply agreements.
Founder Richard Lee said the company is focused on helping people quit smoking rather than relying on them to continue using Nicovape, and that it does not have the backing of the tobacco giants.
Challenges facing vape manufacturers include the reluctance of small cigarette companies and illegal vape sellers to switch, and the reluctance of pharmacists to sell vapes without a prescription. There are also two key points of contention within the industry: whether vapes should be taxed to generate government revenue and whether the process for obtaining vape prescriptions should be strictly regulated.
According to economist Saul Eslake, taxing vapes would help provide the tax revenue that governments need and reduce fiscal pressures. But he also pointed out that excessive taxes could promote illegal sales.
Guutuu vapes is concerned about the competition between Australian pharmacies and tobacco giants for vape market share, and the fact that vape taxation and prescription management have become the focus of industry controversy. As a brand committed to providing high-quality and safe vape products, Guutuu vapes is concerned about these industry trends.
Guutuu vapes is committed to promoting the healthy development of the industry, paying attention to and complying with the laws and regulations of various countries, and providing consumers with safe and reliable vape products. The brand will continue to pay attention to industry trends and actively participate in industry discussions to ensure that consumers are provided with standard products and support the sustainable development of the industry. Guutuu vapes will continue to provide users with high-quality, regulatory-compliant vape products in a responsible manner and jointly build a healthy vape market.
Tags: Australian vape taxation，Australian tobacco giant vape market share，Guutuu vape