Bukidnon Pharmaceutical Multi-Purpose Cooperative (Bupharco)

During the early 1990s, the chain of drugstores, Mercury Drug and Rose Pharmacy, started putting up branches in Bukidnon, specifically in the cities of Malaybalay and Valencia. Naturally, the owners of small drugstores not only in the cities mentioned but also in the nearby municipalities were quite anxious of the presence of these giant drug companies. The notion of forming a cooperative among pharmacists was conceived by Mr. Cripin P. Doldolea, a pharmacist and cooperative worker. He was ably supported by Mrs. Raymunda C. Villahermosa, owner of the largest drugstore in Valencia City and by then, President of the Bukidnon Pharmaceutical Association, Mrs. Guadalupe C. Tubio. Thus, the birth of the Bukidnon Pharmaceutical Multipurpose Cooperative (BUPHARCO) came about as a project of the Bukidnon Pharmaceutical Association. With the organization of BUPHARCO, the pharmacists felt they had a better chance of competing with these chain of drugstores. With their funds pooled together, the pharmacist-owners could now purchase directly from the suppliers and also avail of volume discounts; thus, the lower costs allowed them to lower their selling prices to competitive standards. BUPHARCO is the first of its kind in the Philippines. Despite attendant pains that accompany births, the cooperative was finally organized on September 13, 1994. It was first registered with Cooperative Development Authority (CDA) Region X on October 2, 1995. There were initially only 15 pharmacists who bonded together to form BUPHARCO. Initial capitalization was only Php 150,000.00. Over the years, the coop’s membership and asset have grown. On November 10, 2004, its registration was amended to expand its area of operation and its capitalization. It opened its doors to non-pharmacists accepting them as associate members. Initially, the coop was created to serve the interests of the pharmacists but over the years, the essence of cooperativism was inculcated in the minds of the officers, staff, and members so that now it strives to serve the welfare not just of the shareholders but also the communities it serves.