It sounds logical at first, but combined with the single-ownership rule, it's actually a clever way to protect the "mom&pop store" model. Which is good for the owners, but bad for the consumers - no economies of scale, no competition, no supermarkets... Like being back in the early 50s
That there should be a licensed pharmacist at all times in the store - fine. But why does the store have to belong to one? To take a stereotypically German example, we don't say that all garages have to be owned by mechanics :)
While that seems a bit over the top, I find the part where it must be owned by a pharmacist quite reasonable. It's the same in Germany.