Canadian pharmacy franchise operators Pharmasave and Rx PharmaChoice have formed a strategic alliance.

Executives said the partnership will be called PharmAlliance and will help independent drug stores under the two banners operate more efficiently and cope with stricter government regulations and changes in the way pharmacies are paid for their services.

LANGLEY, British Columbia — Canadian pharmacy franchise operators Pharmasave and Rx PharmaChoice have formed a strategic alliance.

Executives said the partnership will be called PharmAlliance and will help independent drug stores across Canada under the Pharmasave and PharmaChoice banners become more efficient operators and cope with pressure from stricter government regulations and changes in pharmacy reimbursements and other payments.

More than 700 stores operate under the two banners, generating more than $2 billion a year in sales.

"We think there are many benefits of this alliance for our members and their customers," Pharmasave chief executive officer Sue Paish said. "The biggest benefit is that for our customers it will ensure the choice of independent pharmacy as a viable option in Canada for a long time to come. From the member side, it will ensure that pharmacists who want to operate their own stores will be able to continue to do so."

There currently are no plans to meld the Pharmasave and PharmaChoice banners under a common name, even though the partnership will be known as PharmAlliance, according to Paish.

"We think there’s great value in maintaining the different offerings and maintaining the different brands," Paish says. "While the two groups of stores have the same ultimate goal, we do it through different vehicles."