Mr Scott also promised on Wednesday to keep customer data at Priceline separate from other loyalty programs operated in the Wesfarmers stable, as he warned of the significant overlap in health and beauty products sold by Woolworths supermarkets, and pharmacies. Wesfarmers is a 50 per cent owner of the Flybuys loyalty program operated by the Coles supermarket chain, which it owned until 2018.
Mr Scott said Wesfarmers would be a better owner of the API business in the long run.
“We are joined at the hip with community pharmacy and Priceline franchisees,” he said.
It would be the main channel to market for Wesfarmers in health and beauty products.
Woolworths said on Wednesday it was not altering its course. It was continuing with close scrutiny of the inner workings of API under a due-diligence process after access had been granted by the board.
“There is no change to our process, and we are continuing to progress with our due diligence,” a Woolworths spokesman said.
Mr Scott also said Wesfarmers was very confident it would have no problems in gaining approval from the Australian Competition and Consumer Commission for a buyout of API, because it did not own a large supermarket chain of 1000-plus outlets like Woolworths.
“We’re extremely confident there will be no ACCC issues with our proposal,” he said.
‘Clear conflict’
He said after owning the Coles supermarkets business for 11 years, Wesfarmers knew how much overlap there was in health and beauty products sold through supermarkets, and those similar products on the shelves of pharmacy chains.
He said about half of the sales by pharmacists were in non-prescription products and so there was a clear conflict in the Woolworths strategy.
“We just see that as untenable,” Mr Scott said.
Wesfarmers is continuing to work on its plans for API and had conducted meetings with people from across the pharmacy sector. Mr Scott said Wesfarmers had a robust strategy to support community pharmacies over the long term.
API owns the Priceline pharmacy chain and also runs 86 Clear Skincare outlets.
Joint venture partner
Wesfarmers also promised to be vigilant in keeping the customer data from the hugely successful Sister Club loyalty program run by API separate from other loyalty programs Wesfarmers operates.
Wesfarmers owned the Coles supermarket chain for 11 years, buying the supermarket group in 2007 for $21 billion. It then demerged Coles on to the ASX in 2018.
Wesfarmers kept a stake and then exited completely in 2020.
But Wesfarmers is still a 50 per cent joint venture partner with Coles in the Flybuys loyalty program, the second-largest supermarket-anchored loyalty program in Australia, behind Woolworths’ Everyday Rewards.
Mr Scott said in recognition of the competitive overlap between API and supermarkets, Wesfarmers had undertaken to keep all API customer data separate from Coles.
Under its proposal, Wesfarmers aims to use its e-commerce, data and digital capabilities to enhance the API online offer and drive customer engagement, including foot traffic and in-store sales for community pharmacists. Wesfarmers owns Bunnings, Kmart, Target and Officeworks in the retail sector.
Long-term API shareholder Washington H. Soul Pattinson sold its 19.3 per cent strategic stake to Wesfarmers in October, underpinning the Western Australia-based group’s initial bid.
The powerful Pharmacy Guild of Australia, which has 5500 members operating community pharmacies under various banners in their own suburbs, looms as a problem for Woolworths.
The Pharmacy Guild has been critical of Woolworths, with disputes stretching back almost 20 years.
It is sceptical about Woolworths’ pledge that it has no plans to try to eventually install in-house pharmacists in supermarkets. But Woolworths chief executive Brad Banducci said it would run Priceline as a stand-alone business.
FAQs
Wesfarmers' (ASX: WES) $764 million takeover of Australian Pharmaceutical Industries (ASX: API) has been supported almost unanimously by the target's shareholders, bringing the major deal one step closer to completion.
Is API part of Wesfarmers? ›
API is part of the Health division of Wesfarmers and further information on these businesses can be found here. This opens in a new window.
Why did Wesfarmers buy API? ›
The combination of Wesfarmers and API is a compelling opportunity to capitalise on API's strengths and positioning in these markets while drawing upon Wesfarmers' capabilities in retail and distribution, our strong balance sheet and our willingness to invest in our businesses for growth over the long-term.
What pharmacies does API own? ›
API also owns non-pharmacy Priceline stores, the Sister Club loyalty program and Clear Skincare clinics.
- Australian Pharmaceutical Industries. ...
- Priceline and Priceline Pharmacy. ...
- Clear Skincare. ...
- Soul Pattinson Chemist. ...
- Club Premium. ...
- Pharmacist Advice. ...
- Pharmacy Best Buys.
Which are the best pharma api stocks in India right now?
- #1 DIVIS LABORATORIES.
- #2 CIPLA.
- #3 AUROBINDO PHARMA.
- #4 LAURUS LABS.
- #5 IPCA LABS.
How Much Does an API Cost to Build? On average, it costs $20,000 to build a relatively simple API. This figure assumes that you're building a secure, documented, fully-featured API with the services of an experienced API developer based in the United States.
Is API just a link? ›
API are special urls / links , which provide data in json format so that we can parse them and use them in the way we need to use them.
Who is the owner of API? ›
Typically, the IT department (which might have created most of them) owns the internal infrastructure support APIs. You may also have a group of operational teams and individuals in charge of APIs that integrate systems internally. Lastly, the business itself may own APIs related to customer experience.
Who is the API provider? ›
API Provider
API providers build, expose, and operate APIs. In other words, API providers are the ones that provide APIs to others. API providers need to know how APIs are designed, built, and operated. Typically, API providers use an API management platform to build, expose, and operate APIs.
How much did API cost to acquire? ›
Jan 7 (Reuters) - Australian Pharmaceutical Industries (API.AX) said on Friday conglomerate Wesfarmers Ltd would buy it for A$763.6 million ($546.9 million) after Woolworths pulled out of a race to acquire the country's top drugstore chain.
APIs are helpful because they allow you to make your data public so that anyone can use your company's software or analyze the data in order to get insights or develop solutions that would not have been possible without the API.
What are APIs in pharma? ›
Active Pharmaceutical Ingredient (API) is the biologically active component of a drug product (tablet, capsule, cream, injectable) that produces the intended effects.
What is the difference between API and pharma? ›
A Pharmaceutical Formulation Intermediate (or PFI) is a blend of active substances and excipients, oftentimes in a powdered form. An Active Pharmaceutical Ingredient (or API), on the other hand, is the active component of the drug that acts on the symptoms of a disease.
What is the difference between API and drug product? ›
Active pharmaceutical ingredient (API), is the term used to refer to the biologically active component of a drug product (e.g. tablet, capsule). Drug products are usually composed of several components. The aforementioned API is the primary ingredient.
How many APIs are there in pharma? ›
Active pharmaceutical ingredients are mainly of two types: synthetic chemical API and natural chemical API.
What are the top 5 API marketplace? ›
List of the Top API Marketplaces
- APILayer (Recommended)
- Celigo.
- Integrately.
- RapidAPI.
- Gravitee.io.
- Abstract APIs.
- Zapier.
- Facebook Marketplace API.
Answer: Amazon API Gateway is the most expensive service in a serverless architecture.
Is Amazon product API free? ›
With Amazon API Gateway, you only pay when your APIs are in use. There are no minimum fees or upfront commitments. For HTTP APIs and REST APIs, you pay only for the API calls you receive and the amount of data transferred out.
Can I sell my API? ›
After you build, test, and deploy your APIs, you can package them in an API Gateway usage plan and sell the plan as a Software as a Service (SaaS) product through AWS Marketplace.
How long does it take to build an API from scratch? ›
How long does it take to build an API app? An API app usually takes 69 hours to build. However, an API app can be built in as few as 35 hours, or in as many as 104 hours. The exact timeline mostly depends on how complicated your app is.
APIs, or Application Programming Interfaces, are like a set of rules and protocols that allow different software programs to talk to each other and share data or functionality. For example, when you use a weather app on your phone, it's probably using an API to get the current weather data from a service.
How do I receive data from API? ›
Now, we will use Acho as an example to demonstrate how to connect to your API with no coding.
- Configure the API endpoint. An API endpoint can be complex. ...
- Create an API resource. ...
- Store data into a database. ...
- Transform the API data. ...
- Export the data to an application. ...
- Check and maintain the pipeline.
API stands for “application programming interface.” An API is essentially a set of rules that dictate how two machines talk to each other. Some examples of API-based interactions include a cloud application communicating with a server, servers pinging each other, or applications interacting with an operating system.
How does an API make money? ›
Charging for API access
One of the most common ways businesses make money from API is by charging for access to their API. It can do it through a subscription model, where users pay a fee to access the API monthly or annually.
Who is the mother of API? ›
Occasionally, Apis was pictured with the sun-disk symbol of his mother, Hathor, between his horns, being one of few deities ever associated with her symbol.
How much does an API product owner earn? ›
$66K - $99K (Glassdoor est.)
How many companies use APIs? ›
Nearly two-thirds (65%) of organizations rely on APIs to improve collaboration with partners and enable partner innovation, while 60 percent share APIs internally among development teams to deliver products and services faster.
What are the three types of API consumers? ›
Today, there are three categories of API protocols or architectures: REST, RPC and SOAP. These might be dubbed "formats," each with unique characteristics and tradeoffs and employed for different purposes.
Do all companies have APIs? ›
APIs: A Competitive Edge Across Industries
In fact, my company's annual developer survey revealed it isn't just technology companies that are leveraging APIs for building code, it is literally almost every company.
What is the salary of API developer? ›
API Developer Salaries by Company
| Srijan Technologies API Developer Salary 2-4 yrs exp | ₹ 7.4L (₹5 - ₹8.5) L |
|---|
| Altimetrik API Developer Salary 4 yrs exp | ₹ 14.3L (₹11 - ₹18) L |
| Nelito System API Developer Salary 1-3 yrs exp | ₹ 2.6L (₹2.5 - ₹2.6) L |
| Verizon API Developer Salary 2-3 yrs exp | ₹ 2.6L (₹2 - ₹3.5) L |
6 more rowsPer call pricing
| API calls per month per billing account | Cost per million API calls |
|---|
| 0-2M | $0.00 |
| 2M-1B | $3.00 |
| 1B+ | $1.50 |
And when was the very first API really created? The first modern API put to use was the Salesforce API, which was launched by this company during the IDG Demo conference on February 7, 2000.
Do US citizens need to complete APIs? ›
Advance Passenger Information System (APIS) is API information required by US authorities of all persons traveling to and from the country. All air carriers, including Icelandair, are bound by law to transmit API/APIS information prior to departure. Passengers must provide this information or risk being denied passage.
When should you not use API? ›
When not to create REST APIs
- It already has an API. Your system already has an API. ...
- It Will Break. Your API will break. ...
- It Will Change. Ha! ...
- It Will Be Slow. Your API will be slow. ...
- It Will Be Hard To Parse. I am sure many of you parsed JSON documents. “ ...
- 6: It Will Not Make You Money. ...
- Conclusion.
If you don't supply API, you won't be able to travel. Flying with another airline? If you're flying with another airline, please follow the instructions on your e-ticket or confirmation email. If the airline you're flying with offers online check-in, you'll be directed to either their website or the My TUI web page.
What are the 4 types of API? ›
API types by architecture
- Monolithic APIs. Most public APIs are monolithic APIs, meaning they are architected as a single, coherent codebase providing access to a complex data source. ...
- Microservices APIs. ...
- Composite APIs. ...
- Unified APIs.
The active ingredient in a pharmaceutical drug is called an active pharmaceutical ingredient (API). An example of an API is the acetaminophen contained in a pain relief tablet.
What are the 3 types of APIs and give examples for each? ›
There are also three common types of API architectures:
- REST, a collection of guidelines for lightweight, scalable web APIs.
- SOAP, a stricter protocol for more secure APIs.
- RPC, a protocol for invoking processes that can be written with XML (XML-RPC) or JSON (JSON-RPC).
Yes, APIs used in the compounded drug preparation must be listed with FDA.
Is API a drug substance? ›
The main ingredient in a medicine that causes the desired effect of the medicine. Some medicines contain more than one active pharmaceutical ingredient that act in different ways in the body. Also called API, drug substance, and pharmacologic substance.
A generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in some characteristics such as the manufacturing process, formulation, excipients, color, taste, and packaging.
What is an API with example? ›
APIs are mechanisms that enable two software components to communicate with each other using a set of definitions and protocols. For example, the weather bureau's software system contains daily weather data. The weather app on your phone “talks” to this system via APIs and shows you daily weather updates on your phone.
What is the importance of API in drug? ›
API is the biologically active component that makes sure a drug works. It is different from excipients, a chemically inactive substance which actually delivers the effect of API. API manufacturers first acquire relevant raw materials. The compounds go through a host of processes before they become APIs.
What are the API products? ›
API products are the central mechanism for access control to your APIs. By defining one or more API products in a developer app, you can restrict access to proxies with an API key. In Apigee, API keys are provisioned, not for APIs themselves, but for API products.
Who are the major API manufacturers? ›
Major players in the pharmaceutical API manufacturing market are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim, PfizerInc., Aurobindo Pharma, Novartis AG, Dr. Reddy's Laboratories, Merck & Co.
What is the difference between a drug substance and a drug product? ›
Drug product is the finished product of any drug that is available in the market and is ready to use (this includes it's packaging, see also below). A drug substance, because of multiple factors (sensitivity, stability, etc.) is required to be mixed with other components before being released for use in the market.
How is Pharma API calculated? ›
Calculation of assay for active pharmaceutical ingredient (API). Calculation Formula: Assay (%w/w) (on as is basis) = Test area x Standard wt.
How much was API sold for? ›
Among its portfolio are Minneapolis-based LeJeune Steel Co., New Hope-based Twin City Garage Door Co. and Duluth-based speciality contractor Jamar. New Brighton-based APi Group Inc. has agreed to be acquired by a publicly traded acquisition company for $2.9 billion, the two firms announced in a press release.
How much did Wesfarmers pay for Priceline? ›
Wesfarmers adds Priceline to growing retail stable in massive $760 million deal. An iconic Australian pharmacy chain has found a new home alongside a host of other big-name brands in a $760 million takeover deal.
Who is the head of Wesfarmers API after CEO steps down? ›
The new boss of Wesfarmers' health division, Emily Amos, is now in charge of running its only asset, Australian Pharmaceutical Industries (API), after long-time chief executive Richard Vincent stepped down.
What percentage of the US is API? ›
Summary
| Rank | Country | Percentage of Total API |
|---|
| 1 | USA | 53% |
| 2 | Ireland | 22% |
| 3 | China | 6% |
| 4 | Singapore | 3% |
11 more rowsJan 31, 2022
Companies that provide valuable data or functionality through API often use this pricing model, such as weather data, financial information, or e-commerce services. Selling API data: Another way businesses can monetize their API is by selling the data collected through the API to third parties.
How do APIs make money? ›
They work according to a model that is called direct API monetization, where they take a small amount of money for each API call and their customers make billions and billions of such API calls. With huge market valuations, these businesses are the shining examples of API success.
Who owns the most Wesfarmers shares? ›
WESFARMERS LIMITED
| 2021 |
|---|
| Kmart Group | 9 914.00 | 29.3% |
| Officeworks | 3 014.00 | 8.9% |
| Wesfarmers Chemicals, Energy and Fertilisers | 2 144.00 | 6.3% |
| Wesfarmers Industrial and Safety | 1 855.00 | 5.5% |
4 more rowsMay 26, 2023
How Much Debt Does Wesfarmers Carry? As you can see below, at the end of December 2022, Wesfarmers had AU$5.04b of debt, up from AU$3.35b a year ago.
Who owns Priceline pharmacy? ›
Who is the new owner of Priceline? ›
Priceline is acquired by Australian Pharmaceutical Industries Limited (API).
Who is the new CEO of API Group Corp? ›
Russell Becker - CEO and President - APi Group Inc.
