While the underlying profits of its two businesses are steady the combined Life Pharmacy and Pharmacybrands entity has had to write off more than $3 million due to the merger.

In September Life Pharmacy completed a full takeover of Pharmacybrands shares after more than 90% of Pharmacybrands shareholders accepted its offer and sold their shares in exchange for Life Pharmacy shares.

In its first set of financial results since the merger the company reported under the name Life Pharmacy, but it will be changing its name to Pharmacybrands in the second half of the year.

New Zealand drug developer and manufacturer Virionyx has changed its name to Innate Therapeutics as it begins a big push with its new immune therapy drug.

The Auckland-based company is due to start Phase 1 trials on its immune response drug, MIS416, which the company believes helps the immune system fight diseases such as cancer.

Chief executive Simon Wilkinson says studies had shown the drug could significantly reduce the number and size of metastatic breast cancers and lung cancers.

The Warehouse is looking to use the lessons learned from its failed Extra grocery concept to continue rolling out pharmacy additions to select stores.

While the company directors claim that the Extra concept didn’t produce the 10% halo effect required, the pharmacy counters in the stores have done relatively well.

Broader grocery (excluding Extra), pharmacy, and health and beauty sales were up 9% year on year, according to the company’s just-released annual report.

The Warehouse is looking to use the lessons learned from its failed Extra grocery concept to continue rolling out pharmacy additions to select stores.

While the company directors claim that the Extra concept didn’t produce the 10% halo effect required, the pharmacy counters in the stores have done relatively well.

Broader grocery (excluding Extra), pharmacy, and health and beauty sales were up 9% year on year, according to the company’s just-released annual report.