The average time taken for ALMUS PHARMACEUTICALS LIMITED to pay invoices to suppliers has been increasing steadily since the start of the data collection in September 2017. There was a significant increase in the average time taken in the last two periods, from 34 days in March 2019 to 46 days in March 2020.
The volatility of the company's payment behavior can be seen in the fluctuation of the percentage of invoices paid within 30 days. In September 2017, 85% of invoices were paid within 30 days, but this dropped to 55% in the last period (September 2020). There was also a significant increase in the percentage of invoices paid later than 60 days, from 0% in September 2017 to 24% in September 2020.
In the last three periods, there has been a decrease in the average time taken for ALMUS PHARMACEUTICALS LIMITED to pay invoices to suppliers. This is a positive trend showing that the company is making efforts to improve their payment behavior. However, there is still room for improvement as the average time taken is still above the standard payment period of 30 days. In terms of percentage, there has been an increase in the number of invoices paid within 30 days, from 50% in September 2020 to 85% in September 2021. This is a significant improvement, but there is still a high percentage of invoices (23%) being paid later than 60 days. The company's best period was in September 2019, where 94% of invoices were paid within 30 days. The worst period was in September 2020, where 24% of invoices were paid later than 60 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Sept 2020 - 28 Feb 2021 | 29 Mar 2021 | 39 | 50% | 27% | 23% | 9% |
| 01 Mar 2020 - 31 Aug 2020 | 29 Sept 2020 | 46 | 40% | 32% | 28% | 12% |
| 01 Sept 2019 - 29 Feb 2020 | 27 Mar 2020 | 38 | 55% | 21% | 24% | 21% |
| 01 Mar 2019 - 31 Aug 2019 | 27 Sept 2019 | 34 | 62% | 35% | 4% | 12% |
| 01 Sept 2018 - 28 Feb 2019 | 29 Mar 2019 | 25 | 94% | 6% | 0% | 3% |
| 01 Mar 2018 - 31 Aug 2018 | 26 Sept 2018 | 33 | 69% | 28% | 3% | 28% |
| 01 Sept 2017 - 28 Feb 2018 | 29 Mar 2018 | 27 | 85% | 15% | 0% | 9% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Almus Pharmaceuticals Limited has standard payment terms ranging from 30 days of invoice receipt to 75 days of invoice receipt, with over 50% of invoices paid within 30 days of receipt.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
75
The main point of contact for disputes is the Almus Pharmaceuticals Ltd Assistant Accountant, who manages the approval of invoices and follows internal processes to deal with and resolve disputes within 2 working days. Unresolved disputes are escalated at monthly reviews with Almus Pharmaceuticals Ltd senior management.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
❌
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Almus Pharmaceuticals Limited is the UK entity behind the Almus brand of generic medicines, part of the Cencora group (formerly Alliance Healthcare's pharmaceutical distribution business). It supplies generic medicines to pharmacies across a wide range of therapeutic areas, with products manufactured to regulatory standards and packaged to reduce dispensing errors and support patient safety. The UK operation works alongside Almus businesses in France, Spain and Italy, offering pharmacies logistics and ordering support, including stock held in Alliance Healthcare warehouses, delivery, billing and returns handling, and electronic ordering. The brand launched in 2003 and now covers more than 120 molecules. It also runs a pharmacovigilance service for reporting adverse events and medical information requests.
Generated from the company's website and Companies House records. Sources: almus.co.uk