Chemistry is just the physics of the outer electrons!
I think of chemistry as applied physics, both are just as important. What good is physics if you can't apply it?
But where would chemistry be without physics? All that molecular characterization and such that is possible thanks to scientific equipment (e.g. spectroscopy, x-ray techniques, force/electron microscopes), possible only due to our understanding of physics (light, molecular forces, etc). The ability to perform these experiments and analysis are fundamental to our understanding of molecular interactions which define chemistry.
Physics is to chemistry what chemistry is to biology. The physiological process in a biological system are all driven by chemical reactions, which can all be studied by our understanding of chemistry.