Abstract
This study aims to illustrate and compare possible solutions for the privatisation of municipal pharmacies at the present time. from an analysis of the regulatory framework, changed and completed in recent years, two different models emerge for selling off municipal pharmacies: direct privatisation (selling off the whole pharmacy to a private dealer) and indirect privatisation (creating a joint venture for management and subsequent transfer of the majority of shares to a private dealer). the abovementioned models differ in the future role of the public body and the expected revenues from privatisation. An opinion in expressed on the two approaches and the different implications are highilighted for the full time staff of the privatised pharmacies as well as for the effectiveness and efficiency of pharmacy management. The disparities that could appear within the sector, through the creation of a pharmacy chain with a single owner, are also pointed out. The analysis concludes that the privatisation process of pharmacies may represent a unique opportunity not only to re-establish profit margins eroded by poor entrepreneurship, typical of public administration, but also to improve the efficiency of the distribution system for retail drugs.