Alliance Boots buys 12% stake in Nanjing Pharmaceuticals

The UK retailer and wholesaler of drugs and beauty products is paying $91 million for the stake and will also form a strategic alliance with the Shanghai-listed firm.

Alliance Boots buys 12% stake in Nanjing Pharmaceuticals

In a move that will further expand its footprint in China, Alliance Boots has agreed to pay approximately 56 million $91 million for a 12% stake in Shanghai-listed Nanjing Pharmaceutical. The two firms will also form a strategic alliance.

As a result of the investment, the UK pharmaceutical, healthcare and beauty product retailer will become the second-biggest shareholder in Nanjing Pharma, which is the fifth-largest wholesaler of pharmaceutical products in China. The UK company will...

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