Walgreens agrees USD420 mn deal with China’s largest healthcare retailer
06-Dec-17, South China Morning Post
Global pharmacy and healthcare company Walgreens Boots Alliance has signed an agreement with Sinopharm Group, China’s largest retailer of pharmaceutical and health products, in a deal worth CNY2.76 bn (USD420 mn).
%20Felix%20Wong_SCMP.jpg "Walgreens agrees USD420 mn deal with Chinas largest healthcare retailer (c) Felix Wong SCMP")
Image: Felix Wong / SCMP
The agreement will see Walgreens Boots Alliance purchase a 40 per cent stake in Sinopharm Holding Guoda Drugstores, as it seeks to take advantage of the growing interest in healthcare among Asian consumers.
Sinopharm said it would work with Walgreens Boots Alliance to explore opportunities in the broader Asian and global markets.