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UniChem, vying with Gehe of Germany in a pounds 650m bid battle for Lloyds Chemists, discounted a report that it would move 10 per cent of Lloyds' 924 outlets to supermarkets if it won. "If you ask me, are we going to have another 100 [pharmacy] licences in superstores, then that is not my intention. Most of them are not close enough to warrant it, anyway," said Jeffery Harris, chief executive. However, he admitted that part of the benefit of a merger would come from relocating some pharmacies.

UniChem's offer document is expected to be published early next week.