In a move that will further expand its footprint in China, Alliance Boots has agreed to pay approximately 56 million $91 million for a 12% stake in Shanghai-listed Nanjing Pharmaceutical. The two firms will also form a strategic alliance.
As a result of the investment, the UK pharmaceutical, healthcare and beauty product retailer will become the second-biggest shareholder in Nanjing Pharma, which is the fifth-largest wholesaler of pharmaceutical products in China. The UK company will get a seat on the board, as well as a role in the operational management.
“The cooperation with Alliance Boots is of great significance in the context of the slowing global economy...
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