Alliance Boots has been informed that the Ministry of Commerce (MOFCOM) of the People's Republic of China has approved Alliance BMP Limited's acquisition of a 50% stake in Guangzhou Pharmaceuticals Corporation (GP Corp.), the third largest pharmaceutical wholesaler in China. Alliance BMP Limited is a UK-based investment vehicle 80%-owned by Alliance Boots, Europe's leading pharmacy-led health and beauty group, and 20%-owned by Beijing Med-Pharm, a US-listed pharmaceutical marketing and distribution company.
The transaction, which is still conditional upon various matters including GP Corp obtaining a revised business licence, is expected to close before the end of the calendar year.
Guangzhou Pharmaceutical Company Ltd is principally engaged in the manufacture and sale of Chinese patent medicine; wholesale, retail, import and export of western and Chinese pharmaceutical products and medical apparatus; and research and development of natural medicine and biological medicine. Guangzhou Pharmaceutical Company Ltd is a state-owned pharmaceutical enterprise under the Guangzhou municipal government, the H shares of which were listed on the Hong Kong Stock Exchange in 1997 and the A shares of which were listed on the Shanghai Stock Exchange in 2001. Currently Guangzhou Pharmaceutical Company Ltd owns 90% of Guangzhou Pharmaceuticals Corporation which is engaged in pharmaceutical wholesaling and distribution.
Beijing Med-Pharm Corporation (NASDAQ: BJGP) is a pharmaceutical marketing and distribution company that offers the following services in China: pre-market entry analysis; clinical trial management; product registration; market research; pharmaceutical distribution to hospitals; and pharmaceutical marketing to healthcare providers.
Alliance Boots is a leading international pharmacy-led health and beauty group which operates in both wholesale and retail.
It has a wholesale and distribution network serving over 125,000 pharmacies, hospitals and health centres via 380 depots in 14 countries. Pharmaceutical wholesaling businesses are in the Czech Republic, France, Italy, The Netherlands, Norway, Russia, Spain and the UK. Associate pharmaceutical wholesaling interests are in Egypt, Germany, Portugal, Romania, Switzerland and Turkey.
In retail, Alliance Boots has a network of approximately 3,000 outlets in seven countries, of which over 2,700 have pharmacies. Retail healthcare outlets are in Republic of Ireland, Italy, The Netherlands, Norway, Thailand and the UK. Associate retail healthcare outlets are in Italy and Switzerland.
Formed on 31 July 2006, Alliance Boots is privately owned and employs around 100,000 people.
For further information, please contact:
Gerald Gradwell, Alliance Boots
Tel: +44 (0)20 7138 1118
Richard Constant, Gavin Anderson
Tel: +44 (0)20 7554 1400