This pharmacist is branching out to provide affordable meds for pets

Adam Silvertown’s new business is a marriage of his two passions: animals and compounding medications.Silvertown has been an animal lover his whole life. “I’ve always had a dog, I love animals and dogs and I love people who love their pets,” he says. Silvertown is also the founder of PACE Pharmacy, a compounding pharmacy business with two locations in Toronto. But it wasn't until a recently that he decided to bring his love for pets into his work. When his dog was prescribed a medication by the vet, Silvertown didn't think twice about paying whatever the vet charged. "Then, out of curiosity, I was in the pharmacy, I looked up the cost of the drug for humans and realized I paid probably four times what I would’ve paid if that drug was prescribed to a person—same product, same tablet, same DIN, same strength, everything,” he recalls. “That got me on a mission of trying to figure out a better way.” The experience inspired Silvertown to start Vet Meds, a division of PACE Pharmacy. Vet Meds is an online pharmacy for pets that gives their owners the option to buy medications for their furry family members more affordably. Vet Meds is a website with a catalogue displaying what’s available and the cost. Pet owners can then ask their veterinarian to fax their pet's prescription to VetMeds, or mail a hard copy prescription to the site and either pick up the medication (or compound) from one of PACE's two Toronto locations or have it shipped anywhere in Canada.Traditionally, veterinary drug distributors restricted their supply to vets—so pet owners were stuck buying their animals' medications from their vets, often with a steep mark-up.Read: Vet loses battle against animal meds monopoliesBut Silvertown says that things are shifting. “I think people are becoming more aware that there ought to be more options,” he says. “And pharmacists are legally allowed to dispense any medications to humans or animals, as long as they’re approved by Health Canada.” By launching an online pharmacy for pets, Silvertown says that pet owners will have more options—and be able to pay less for their pets’ medication. This is especially great for pets with chronic conditions that take medications long term. That being said, Vet Meds and other pharmacies selling drugs for pets can’t stop vets from charging prescription fees. “It does make things a little awkward, because if a veterinarian is giving a prescription out, it means they’re not going to be selling that medication at the very healthy margins that they historically would have, so they might be resistant or will charge a prescription-writing fee,” says Silvertown. But, he hopes that even with that extra fee, getting pet drugs at Vet Meds will still be more affordable.While Vet Meds just launched, Silvertown is already looking towards the future. He hopes to partner with vets down the line, though he acknowledges that some are likely to be resistant to the idea. He also points to virtual vet services who might see the value in having a connection with a pharmacy to dispense drugs. Ultimately, Silvertown hopes that Vet Meds will become a “trusted name in getting people animal medication and a more convenient and affordable option.” While he doesn’t think that the pet pharmacy side of his existing business will become a massive money-maker, Silvertown does hope Vet Meds becomes a household name for animal medications and gives pet owners more options than they currently have.

This pharmacist is branching out to provide affordable meds for pets

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