Alibaba Ends $2.5 Billion Plan to Move Online Pharmacy into Ali Health
publication date: Apr 4, 2016
Alibaba has ended plans to transfer its online pharmacy operations into Alibaba Health Information Technology (Ali Health). It said the two companies could not come to terms before time ran out to finalize the deal, and it blamed the failure on continuing revisions in China's online pharmacy regulations. When Alibaba announced the transaction one year ago, it gave the deal a value of $2.5 billion. Now, as a backup plan, Alibaba will transfer its online health foods and supplements business from Tmall, Alibaba's major online sales portal, to Ali Health. More details....
Stock Symbols: (NYSE: BABA) (HK: 0241)
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