DEERFIELD, Ill.--(BUSINESS WIRE)--Jul. 5, 2018--
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that,
following receipt of regulatory approvals, it has completed the
previously announced agreement to acquire a 40 percent minority stake in
Sinopharm Holding GuoDa Drugstores Co., Ltd. (“GuoDa”), a leading retail
pharmacy chain in China.
Walgreens Boots Alliance acquired the minority stake in GuoDa through a
capital increase worth RMB2.767 billion (around $416 million), and will
account for the stake as an equity method investment.
Executive Vice Chairman and CEO Stefano Pessina commented: “We are
delighted that we have received regulatory approvals and our investment
agreement has now been completed. We believe GuoDa holds a strong
position in the sector, and as a global pharmacy-led health and beauty
enterprise, we are well positioned to support its further growth
ambition. We are looking forward to sharing our international best
practices and pharmacy expertise. We believe there is great potential in
working together to play a transforming role in the evolving Chinese
retail pharmacy market.”
Notes to Editors:
Sinopharm Holding Guoda Drugstore Co., Ltd. (“GuoDa”) is a large
national pharmacy chain in China. It is China National Pharmaceutical
Group Corporation’s (CNPGC) retail pharmacy platform, established in
March 2004 and headquartered in Shanghai.
GuoDa operates more than 3,800 retail pharmacies across around 70
cities, and employs close to 20,000 people. In 2016, GuoDa was
consolidated into China National Accord Medicines Corporation Ltd.
(“Sinopharm Accord”) (Shenzhen Stock Exchange/A Share: 000028). After
over 10 years of rapid growth, GuoDa has developed national coverage
across 19 provinces, autonomous regions and municipalities.
In line with CNPGC’s strategy to further grow the State-owned
pharmaceutical and healthcare business, GuoDa aims to take advantage of
the unprecedented opportunities created by the Chinese healthcare reform
to further expand nationwide.
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led,
health and wellbeing enterprise. The company's heritage of trusted
health care services through community pharmacy care and pharmaceutical
wholesaling dates back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and
daily living destination across the U.S. and Europe. Walgreens Boots
Alliance and the companies in which it has equity method investments
together have a presence in more than 25* countries and employ more than
385,000* people. The company is a global leader in pharmacy-led, health
and wellbeing retail and, together with the companies in which it has
equity method investments, has more than 13,200* stores in 11* countries
as well as one of the largest global pharmaceutical wholesale and
distribution networks, with more than 390* distribution centers
delivering to more than 230,000** pharmacies, doctors, health centers
and hospitals each year in more than 20* countries. In addition,
Walgreens Boots Alliance is one of the world’s largest purchasers of
prescription drugs and many other health and wellbeing products.
The company’s portfolio of retail and business brands includes
Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as
increasingly global health and beauty product brands, such as No7, Soap
& Glory, Liz Earle, Sleek MakeUP and Botanics.
More company information is available at www.walgreensbootsalliance.com.
* As of 31 August 2017, using publicly available information for
** For 12 months ending 31 August 2017, using publicly available
information for AmerisourceBergen
Cautionary Note Regarding Forward-Looking Statements
All statements in this publication that are not historical statements
are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
statements include, but are not limited to, statements regarding the
company’s investment in GuoDa and the possibleeffects thereof,
as well as retail pharmacy market development and growth opportunities
in China. Words such as “expect,” “pending,” “potential”, “likely,”
“preliminary,” “would,” “could,” “should,” “can,” “will,” “project,”
“intend,” “plan,” “believe,” “seek,” “estimate,” “anticipate,” “may,”
“possible,” “assume,” and variations of such words and similar
expressions are intended to identify such forward-looking statements.
These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and assumptions,
known or unknown, which could cause actual results to vary materially
from those indicated or anticipated. Such risks include, but are not
limited to, risks related to strategic investments generally, including
risks related to the ability to realize the anticipated benefits of thetransaction, risks associated with investments in international
business operations, the outcome of legal and regulatory matters, the
risk of unexpected costs, liabilities or delays, changes in management’s
assumptions, and risks associated with changes in laws, regulations or
interpretations thereof. These and other risks, assumptions and
uncertainties are described in Item 1A (Risk Factors) of the Company’s
Annual Report on Form 10-K for the fiscal year ended August 31, 2017 and
Quarterly Report on Form 10-Q for the fiscal quarter ended November 30,
2017, each of which is incorporated herein by reference, and in other
documents that the Company files or furnishes with the Securities and
Exchange Commission. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to place
undue reliance on these forward-looking statements, which speak only as
of the date they are made. Except to the extent required by law,
Walgreens Boots Alliance does not undertake, and expressly disclaims,
any duty or obligation to update publicly any forward-looking statement
after the date of this publication, whether as a result of new
information, future events, changes in assumptions or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180705005091/en/
Source: Walgreens Boots Alliance, Inc.
Walgreens Boots Alliance, Inc.
Michael Polzin, +1 847 315 2935
International / Laura Vergani, +44
(0)207 980 8585
Gradwell and Ashish Kohli, +1 847 315 2922