Canada’s biggest pharmacy chain is looking for a new CEO to take over the company’s Canadian operations, the latest news about the company comes from the company and its chief executive officer.
Gateway Pharma says its CEO will be replaced by a fresh member of the company team after a meeting of its board of directors is set for Tuesday.
The announcement is the latest twist in a tumultuous year for Gateway, which has been battling major regulatory issues that have impacted its operations in Canada.
The company has faced a slew of legal and regulatory battles since the launch of its new pharmacy network in 2017, including allegations of predatory pricing and the introduction of a new “bump-and-grind” program that requires pharmacies to use a discount coupon for each order rather than the regular rate.
A recent class-action lawsuit alleged Gateway was skimming a whopping 60% of the profits of some Canadian pharmacies, which it has denied.
Gateways pharmacy network is set to launch later this month in the Ottawa area.