Mercury Drug founder passes away at 96

MANILA, Philippines - Mariano Que, the founder of the iconic Mercury Drug, has died, according to the advisory posted by the company on its social media page yesterday. He was 96.

In its advisory, Mercury Drug Corp. said those who wish to send flowers may just make a donation to their favorite charitable institution or to the Mercury Drug Foundation Inc.

As of press time, no other details surrounding his death were provided.

The Que family led by daughter Vivian Que Azcona is listed in Forbes magazine’s 50 richest Filipinos in 2016 at number 24 with a net worth of $900 million.

Vivian is the president of the company and has led the drugstore chain’s expansion into retail services with the addition of convenience stores.

The drugstore giant was started by the elder Que after World War II.

Que, who was a regular employee at a drugstore located in Manila during the prewar period, gained knowledge on medical prescriptions.

In 1945, when the war ended, Mariano had enough capital to put up a store, Mercury Drug, named after the Roman god Mercury who carried the caduceus symbol.

Forbes said Que sold medicine – particularly sulfathiozone – “from a pushcart” before he opened Mercury Drug’s first store in 1945 at Bambang Street in Manila.

The drug store began repackaging bulk items into single pieces and selling them individually, pioneering the drug retail business in the Philippines.

In 1963, upon the invitation of Ayala Corp., Mercury Drug opened its second branch in a developing commercial center in Makati City, now known as the Ayala Center.

In 1965, Mercury Drug established its landmark branch in Plaza Miranda, Quiapo, Manila, which is notable for its large outdoor LED screen.

In 2001, then Trade and Industry secretary Manuel Roxas II said the drugstore giant accounts for 70 percent of the market and already has a “near monopoly” of the local industry.

Mercury now has over 1,000 branches with at least 11,000 employees nationwide but retail giants such as Ayala and Robinsons have also entered the drugstore business, with their respective drug store chains, somewhat breaking Mercury Drug’s monopoly of the market.