Business Activities News
- Alliance Boots in venture to enter China
Date: 31-Jan-2007 Sources: (Xinhua Online)
BRITISH drug wholesaler and retailer Alliance Boots said yesterday it had agreed to form a 50-50 joint venture with Guangzhou Pharmaceuticals Corp. to enter the Chinese drugs distribution market.
Alliance Boots said it would buy a 50 percent interest in Guangzhou Pharmaceuticals, China's third-biggest pharmaceutical wholesaler, for 38 million pounds (US$74.5 million). It said it would make the investment through a U.K. subsidiary in which U.S.-listed Beijing Med-Pharm Corp. holds a 20 percent stake.
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