Free prescription for benefits claimants vs Fum £££16 Feb 2024 09:44
Looking at the U.K. population claiming benefits, for the purpose of getting free prescriptions, the breakdown is below. From the government website, altogether there were 22.4 million people claimed some combination of DWP benefits in August 2022. If we take just 5million using 1 Eroxon pack just once a week x £20, that’s £100m. Let’s say Fum margins are 25%, that’s £25m. Just mind boggling when you think about it. Viagra makes £1.8 billion a year of sales, with all its side effects etc… and not OTC. Now add the OTC market, someone suggested Fum will do what ARM did in the smart devices processors market, I wouldn’t disagree.
* 12.7 million were of State Pension Age (including those in receipt of their State Pension)
9.1 million were of Working Age
DWP benefits by number of claimants at August 2022
Number of claimants:
State Pension 12,579,000
Pension Credit 1,376,000
Universal Credit 5,661,000
Personal Independence Plan 2,774,000
Housing Benefit 2,534,000
Employment Support Allowance 1,673,000
Attendance Allowance 1,559,000
Carer Allowance 1,359,000
Disability Allowance 1,215,000
https://www.gov.uk/government/statistics/dwp-benefits-statistics-february-2023/dwp-benefits-statistics-february-2023