An apparatus for storing and dispensing of a plurality of items of stock (34) such as pharmaceuticals comprises a plurality of storage regions (20), e.g. shelves (26) and a dispensing station (48). The storage regions (20) are arranged to circulate around a continuous path (10) such that each storage region (20) is periodically brought into alignment with the dispensing station (48) so as to allow items to be removed from the storage region (20) at the dispensing station (48).