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The Mercury Drug Corporation, better known as Mercury Drug, is a Philippines pharmacy chain. A subsidiary of the Mercury Group of Companies, it is headquartered in Bagumbayan, Quezon City. The chain was founded in Santa Cruz, Manila in 1945, making it the second oldest drugstore chain in the Philippines after Southstar Drug by eight years. As of 2017, Mercury Drug has over 1,000 branches nationwide and over 50 percent of the Philippine pharmaceutical retail market.
The store began cutting packaged, bulk items into single pieces and selling them individually; this retail practice is colloquially called tingí-tingî in Filipino. It is the second oldest operating drugstore chain in the country after Southstar Drug, which was established eight years earlier.
Upon the invitation of Ayala Corporation, Mercury Drug opened its second branch in May 1963 at the Corporation's developing commercial center in Makati now known as the Ayala Center. The self-service concept was introduced at that branch, making it today's model for all branches.
In 1965, Mercury Drug established its landmark branch at Plaza Miranda, Quiapo, Manila opposite Quiapo Church, which is currently noted for its large, outdoor LED screen. The company also established 24-hour store schedules in the same year. It was later expanded to Visayas and Mindanao, starting operations there in 1976.
In 1981, Mercury Drug's new spacious warehouse was inaugurated. The following year, it inaugurated its new head office in Quezon City.
In 2001, Trade and Industry Secretary Mar Roxas described Mercury drug as a "near monopoly" and said it has 70 percent share of the domestic market though it faces competition from the above-mentioned Southstar Drug (later acquired by Robinsons Malls in 2012), Rose Pharmacy (partnered with Robinsons in 2020), and the SM Retail-owned Watsons Philippine franchise.
As of 2010, the company has an estimated 50 percent share of the local pharmaceutical retail market.
As of 2017, Mercury Drug has reportedly over 1,000 branches across the country. In the early 2010s, it opened a new building, MDC100, located in Eastwood City, Quezon City.
Sy was silent about the truthfulness of these urban legends. In 2002, his daughter, Teresita Sy-Coson, wrote The Philippine Star and stated that his father and Mariano Que were "good friends and this friendship extends to family members." Furthermore, she said that the two companies could not agree on rental rates, which is the "only reason" why there is no Mercury Drug store in SM malls. Likewise, Mercury Drug said in an official statement that they have "a high regard for Mr. Henry Sy and the SM Enterprise" and they "respect each other's business endeavors and maintain a friendly attitude toward each other."
9781907065118, Oxford Business Group. . ISBN 9781907065118 By 2012, Mercury Drug Stores have made drive-thru pharmacies. By 2015, the company's share in retail increased from 50 percent with competitors such as Watsons getting a 6 percent share of the market.
Urban legends
There are urban legends about why Mercury Drug stores are non-existent inside SM Supermalls. One story claims that Henry Sy, a businessman selling footwear who would eventually establish SM Supermalls, was rejected a rental space to sell shoes at Mercury Drug, while also claiming that Sy remembered this and as a result, secured Watsons as the pharmacy in his malls. Another story claims that Sy was selling footwear in front of Mercury Drug as a sidewalk vendor and then was shooed away by drugstore's security guards. The story also adds that after years have passed, Mercury Drug had allegedly asked to rent a space at SM malls but was "rejected" and "banned" because Sy had remembered the incident of being driven off by guards.
Subsidiaries
Tropical Hut
Mercury Drug is also the owner of the popular food chain Tropical Hut. It was the biggest fastfood chain for hamburgers in the country from the 1960s to 1970s. President Benigno Aquino III considered hamburgers his comfort food and usually visited its branch at Jaka Plaza along Sucat Road in Parañaque as it was his favorite restaurant.
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