API

OVERALL
Owned	AUS
Rating

Pharmaceutical and toiletry wholesaling and retail

API has four core business operations - pharmaceutical distribution, manufacturing, retail pharmacy brands and hospital and medical distribution. API established as a chemists' co-operative in 1910 and listed on the ASX on 16 June 1997. The API retail pharmacy banner groups are Priceline, Soul Pattinson, and Pharmacist Advice.

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PRAISE	CRITICISM	INFORMATION
Australian Pharmaceutical Industries Ltd
		Breaching advertising codes In 2013 and 2012 the Therapeutic Goods Administration's Complaints Resolution Panel upheld complaints about ads by this company on the grounds that they breached advertising codes. The Panel requested this company withdraw the ads and not to use representations in the ads again. [Source 2013][More on Irresponsible Marketing] No tax paid in 2013/4 According to data released by the Australian Tax Office in Dec 2015, this company was one of 579 local and foreign-based companies that paid no tax in Australia in 2013-14. Please note however that companies pay income tax on profits, not revenue (total income). While some companies use tax havens and loopholes to avoid paying their fair share of tax in Australia, other companies that paid no tax have perfectly legitimate reasons. [Source 2015][More on Finance]

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