WBA completes investment in Chinese pharmacy chain

Walgreens Boots Alliance (WBA) has completed its acquisition of a 40% minority stake in Sinopharm Holding GuoDa Drugstores Co. GuoDa is a leading community pharmacy chain in China, operating more than 3,800 pharmacies across some 70 cities in the country. WBA said it will account for the minority stake in the company as an equity investment.

Walgreens Boots Alliance (WBA) has completed its acquisition of a 40% minority stake in Sinopharm Holding GuoDa Drugstores Co. GuoDa is a leading community pharmacy chain in China, operating more than 3,800 pharmacies across some 70 cities in the country. WBA said it will account for the minority stake in the company as an equity investment. Executive vice chairman and CEO Stefano Pessina noted, "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."