Alliance Boots confirms that it has signed a letter of intent and is in discussions with Nanjing Pharmaceutical Group Limited to take a stake in that company, which is the largest shareholder in Nanjing Pharmaceutical Company Limited, one of the leading pharmaceutical wholesalers in China.
Both parties believe this cooperation will provide substantial support to the Chinese Government and its commitment to healthcare reform over the next ten years.
This statement is an expression of intent where execution and progress of future steps will be subject to regulatory and government approval in China.
Alliance Boots is a leading international pharmacy-led health and beauty group offering a wide range of products and services to our customers working in close partnership with manufacturers and pharmacists. Our two core business activities are pharmacy-led health and beauty retailing and pharmaceutical wholesaling and distribution. Alliance Boots is privately-owned and employs over 115,500* people. Its wholesale and distribution network serves over 160,000* pharmacies, doctors, health centres and hospitals from over 370* pharmaceutical wholesale distribution centres in 21* countries. It operates more than 3,280* health and beauty retail stores in 11* countries, of which just under 3,180* have a pharmacy. * Figures stated are as at 31 March 2011, are approximate and include associates and joint ventures.
Nanjing Pharmaceutical Company Limited is a leading pharmaceutical wholesaler in China with revenue for the year ended 31 December 2010 of RMB 15.3 billion (approximately £1.5 billion). The company holds a strong market position in its home province of Jiangsu and key provinces of Fujian and Anhui and has expanded in seven further provinces. The company is listed on the Shanghai stock exchange and has over 8,000 employees. Its primary customers are hospitals and retail chains, including its owned stores.
Group Communications, Alliance Boots
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