Alliance Boots to buy 12% stake in Nanjing Pharmaceutical

By Admin
Alliance Boots said it will buy a 12% stake in Chinas Nanjing Pharmaceutical Co, the news reports said. The European drugstore chain said it will compl...

Alliance Boots said it will buy a 12% stake in China’s Nanjing Pharmaceutical Co, the news reports said. The European drugstore chain said it will complete the transaction through a private placement of around 56 million pounds ($90.8 million).

The stake acquisition will make Alliance Boots Nanjing Pharmaceutical’s second-largest shareholder with management representation.

The move marks the latest foreign acquisition in China’s healthcare sector, as the investors expect further government reforms to boost the private-sector involvement.

The private equity companies including Carlyle Group and RRJ Capital have been active investors in the country’s healthcare sector this year. Shanghai-listed Nanjing Pharmaceutical reported sales of about 20 billion yuan ($3.2 billion) last year and operates in 12 cities across China.

Alliance Boots had a joint venture in China since 2008 with Guangzhou Pharmaceuticals Corp. U.S.-based pharmacy giant Walgreen Co has about 45% stake in Alliance Boots through a $6.7 billion deal struck in June. Both of them together operate over 11,000 drugstores in U.S., Europe, and Asia under the Walgreens and Boots names.

Alliance Boots is a well-known pharmacy-led health and beauty group that delivers a wide range of products and services to its customers. Nanjing Pharmaceutical Company is listed on the Shanghai Stock Exchange and is the fifth largest pharmaceutical wholesaler in China. 

Share
Share

Featured Articles

Johnson & Johnson: Turning supplier spend into local support

Johnson & Johnson’s Global Supplier Diversity & Inclusion team is growing spending with social enterprises around the globe to expand its impact

Seasonal Affective Disorder’s impact on health & solutions

Dr Ravi Gill & Dr. Naomi Newman-Beinart discuss Seasonal Affective Disorder and its treatments, from vitamin D spray to light therapy

CGI teams up with Totalmobile for digital healthcare service

CGI is driving efficiency in healthcare. Hear from Helena Jochberger, at Manufacturing Digital LIVE, a free virtual event on Wednesday 6th December 2023

Deloitte: generative AI can improve access to healthcare

Technology & AI

Wipro & NVIDIA’s revolutionary healthcare uses generative AI

AI & ML

Healthtech platform CoverSelf extends seed round to US$8.2m

Technology & AI