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Walgreens Boots Alliance Acquires 40% Stake in Sinopharm Drugstore Chain for $420 Million

publication date: Dec 1, 2017

Walgreens Boots Alliance, a western retail pharmacy chain, will pay $420 million to acquire a 40% stake in Sinopharm Holding GuoDa Drug Store Co, the largest retail pharmacy chain in China. GuoDa is a subsidiary of state-owned Sinopharm, the largest pharmaceutical company in China, and it is the industry's revenue leader for the past five years, with nearly 3,700 stores in 70 major cities across China. More details....

Stock Symbol: (NSDQ: WBA)

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