Alliance Boots announces that China Securities Regulatory Commission (CSRC) has approved the Group's investment in Nanjing Pharmaceutical Company Limited. This approval, following the authorisation recently received from China Ministry of Commerce (MOFCOM), paves the way for the completion of the investment in the coming weeks. As a result of the investment, Alliance Boots will become the second largest shareholder in Nanjing Pharmaceutical Company Limited with Board and operational management representation.
In September 2012, Alliance Boots announced that it will acquire a 12% stake in Nanjing Pharmaceutical Company Limited, through a private placement, for a total consideration of approximately £56 million (RMB560 million). Nanjing Pharmaceutical Company Limited, listed on the Shanghai Stock Exchange, is the seventh largest pharmaceutical wholesaler in China with sales of around £2 billion (RMB20 billion) in 2013.
The Group first entered the Chinese market in 2008 through its joint venture Guangzhou Pharmaceuticals Corporation, which operates in complementary geographies and continues its successful development.
Notes to editors:
About Alliance Boots
Alliance Boots is a leading international pharmacy-led health and beauty group delivering a range of products and services to customers. Working in close partnership with manufacturers and pharmacists, we are committed to improving health in the local communities we serve and helping our customers and patients to look and feel their best. Our focus is on growing our two core business activities of: pharmacy-led health and beauty retailing and pharmaceutical wholesaling and distribution, while increasingly developing and internationalising our product brands.
Alliance Boots has a presence in more than 27* countries and employs over 120,000* people. We have pharmacy-led health and beauty retail businesses in 11* countries and operate more than 4,600* health and beauty retail stores, of which more than 4,450* have a pharmacy, with a fast growing online presence. In addition, Alliance Boots has around 600* optical practices, of which around 180* operate on a franchise basis, and hearingcare services in around 430* locations. Our pharmaceutical wholesale businesses deliver over 4.5* billion units each year to more than 180,000* pharmacies, doctors, health centres and hospitals from over 370* distribution centres in 20* countries.
In June 2012, Alliance Boots announced that it had entered into a strategic partnership with Walgreen Co. (Walgreens), the largest drugstore chain in the US. In August 2014, Alliance Boots and Walgreens communicated that they plan to merge in the first quarter of calendar 2015 to create the first global pharmacy-led, health and wellbeing enterprise, which will be named Walgreens Boots Alliance.
* Figures are approximations as at 31 March 2014, with the addition of Farmacias Ahumada data at the date of its acquisition on 11 August 2014, and include associates and joint ventures.
For further information, please contact:
Yves Romestan/ Laura Vergani / Katie Johnson / Julie Longton , Alliance Boots: +44 (0)207 980 8585
Claire Scicluna, RLM Finsbury: +44 (0)207 251 3801
Gerald Gradwell, Alliance Boots: +44 (0)207 980 8527 (UK)/+1 646 688 1336 (US)