"AVERAGE" HOSPITAL PHARMACY INVENTORY DOLLAR-VALUE REMAINED STEADY in 1984 at the same levels as in 1983, according to a just-released preview of the Lilly Hospital Pharmacy Survey. "For the first time in Survey history, the dollar value of inventory in 1984 did not show an increase over the previous year's figure," the survey said. According to the preliminary report, inventory was valued at $121,552 in the 1983 survey of 2,102 hospitals; by comparison, in the 1984 survey of 1,964 hospitals, the value of inventory was one-tenth of a percentage point less, or $121,414. The survey notes that purchases were more than 7% higher in 1984 than in 1983 and that consequently estimated inventory turnover rate increased from 7.2 to 7.8 times. In 1983 the average hospital pharmacy made $879,431 worth of drug purchases, while in 1984 the figure was $944,569, according to the survey. If the 1984 turnover rate had remained at its 1983 level of 7.2 times, the preview estimates that inventory would have been $10,000 higher than the 1983 figures. "The significant improvement in the inventory turnover rate observed over the past few years indicates that hospital pharmacy managers are continuing to succeed in their efforts to control inventory investment, which contributes to better cash flow in their institutions," the preview comments. "Both the number of hours the central pharmacy was open as well as the number of hours worked by pharmacists rose slightly during 1984, although technician and support personnel hours somewhat declined," the survey notes. A table in the preview report indicates that pharmacist-hours per week for the average hospital increased 3.2% from the previous year, from 281 to 290 hours per week. With the decline of 6.4% in hours worked by support personnel, the survey remarks that "overall, the total hours worked per week by the staff remained virtually unchanged from the previous year." The complete 10th edition of the Survey will be distributed in August.
Join thousands of industry professionals who rely on Pink Sheet for daily insights
Already a subscriber?
Advanz Pharma would have had to show that the European Commission’s decision to revoke Ocaliva’s conditional marketing approval risked causing serious and irreparable harm, according to lawyers from Van Bael & Bellis.
This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.
We are conducting a survey to better understand our subscribers’ content and delivery needs. If there are any changes you’d like to see in coverage topics, article format, or the method in which you access the Pink Sheet – or if you love it how it is – now is the time to have your voice heard.
A new pilot aims to take Brazil closer to ‘digital transformation.’
EU authorities must “take advantage” of the upcoming Biotech Act to reassess the bloc’s policies and “offset existing challenges” for small and midsized enterprises, trade association EUCOPE has said.
The whole contract research organization industry is being impacted by the current volatility in the pharmaceutical industry.
The 14 July deadline for the Citeline Japan Awards 2025 in Tokyo is approaching fast, so here's a reminder to take a look at the categories and criteria and be sure to get your submissions in by this date. Sponsorship opportunities and tables for the event are also available.
