ALEXANDRIA, Va. Teams of pharmacy students from three universities were named finalists in a community pharmacy business plan competition.
Announced at the American Association of Colleges of Pharmacy annual meeting in Seattle, teams from the Auburn University Harrison School of Pharmacy, Drake University College of Pharmacy and Health Sciences and Washington State University College of Pharmacy, were named finalists in the National Community Pharmacists Association's Pruitt-Schutte Student Business Plan Competition. The goal of the competition is to motivate pharmacy students to create a business model for buying an existing independent community pharmacy or developing a new pharmacy. The competition is supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies and the NCPA Foundation, NCPA's charitable arm.
"The future of independent community pharmacy resides in the hands of pharmacy students, which is why NCPA invests considerable resources in providing these young people with the tools to be successful owners," said Joseph Harmison, NCPA president and pharmacy owner. "The Good Neighbor Pharmacy Pruitt-Schutte Student Business Plan Competition is the crown jewel of those efforts, as teams of pharmacy students create independent community pharmacy business plans that are judged by a distinguished panel of pharmacy professionals."
Team members and the adviser for the three finalist teams will receive complimentary registration, travel, and lodging to NCPA's 112th Annual Convention and Trade Exposition in Philadelphia, on Oct. 23 to 27, where they will compete for first, second, and third place in an exciting, live competition. After the presentations have been evaluated and scored, the following awards will be presented:
- First Place-$3,000 to the NCPA student chapter and $3,000 contributed to the school in the dean's name to promote independent pharmacy
- Second Place-$2,000 to the NCPA student chapter and $2,000 contributed to the school in the dean's name to promote independent pharmacy
- Third Place-$1,000 to the NCPA student chapter and $1,000 contributed to the school in the dean's name to promote independent pharmacy.
"The competition to recognize outstanding students also helps to promote independent ownership of community pharmacy -- a cornerstone in local neighborhoods," said R. David Yost, president and CEO of AmerisourceBergen, whose Good Neighbor Pharmacy program is the primary sponsor of the competition. "We believe it is essential for pharmacy students to have access to high quality business education, and this program helps provide that. Good Neighbor Pharmacy is proud to encourage students to explore the benefits of a career in community pharmacy through programs such as this real-world business case competition."