Walgreens Buys Minority Stake In Chinese Pharmacy Chain For $416M

Walgreens Boots Alliance has finalized its purchase of a 40% stake in Sinopharm Holding GuoDa Drugstores, a leading Chinese retail pharmacy chain. The deal, valued at approximately $416 million, had been awaiting regulatory approval since it was announced in December 2017.

GuoDa operates more than 3,800 retail pharmacies in 70 cities, employing close to 20,000 people. It is the China National Pharmaceutical Group Corporation’s retail pharmacy platform, established in 2004 and headquartered in Shanghai, China.

“We believe GuoDa holds a…