OU College of Pharmacy team members Hayley Sewell, Jennifer Walling, Jonathan Little and Victoria Boudiette
OU College of Pharmacy Students Win National Business Plan Competition
Published: Wednesday, October 30, 2019
Four students from the University of Oklahoma College of Pharmacy came in first place in the National Community Pharmacists Association Pruitt-Schutte Student Business Plan Competition, held October 26, in San Diego.
OU College of Pharmacy team members Hayley Sewell, Jennifer Walling, Jonathan Little and Victoria Boudiette. The team’s faculty advisors are Eric Johnson, Dr. Katherine O’Neal and Dr. Justin Wilson. Dr. JoLaine Draugalis is Dean of the OU College of Pharmacy.
The students presented their plan, “Fusion Pharmacy: Where retail pharmacy and infusion services collide,” in front of 1,000 people and national judges. They were awarded $3,000 for the OU NCPA student chapter, along with $3,000 in the dean’s name to promote independent pharmacy at the college. They also received complimentary registration, travel and lodging the Multiple Location Conference (formerly the Independent Chain Conference) in February 2020.
“The business plan team did a great job identifying a market need with the unique and innovative concept,” said O’Neal. “They were able to blend two pharmacy businesses into one – a traditional community, service-oriented pharmacy utilizing the Community Pharmacy Enhanced Services Network with a patient-centered ‘concierge’ type infusion service.” CPESN is one of the latest innovations within the field of pharmacy. She said that the team was able to capitalize on a relationship with an established infusion pharmacy within the OKC metropolitan area to expand into the Tulsa metropolitan area and keep their focus on services. “Additionally, the team has done a great job of branding their image and creating a fully integrated marketing campaign.”
The goal of this competition is to motivate pharmacy students to create the blueprint necessary for either buying an existing independent community pharmacy or to develop a new pharmacy. OU College of Pharmacy offers an elective class PHAR 7703 (Pharmacy Business and Entrepreneurship) in the fall semester to cover all the components needed for such a business plan. Students divide into teams and work together on their plans.