image: Charles Krupa / AP

Walgreens Completes Investment In Chinese Pharmacy Chain

July 6, 2018

Via: Forbes

Walgreens Boots Alliance now has a 40% stake in Sinopharm Holding Guoda Drugstores Co. Ltd., which has a franchise of retail pharmacies across China.

The $416 million investment in Sinopharm Guoda will help provided a needed boost to Walgreens international sales. In Walgreens fiscal third quarter, retail international pharmacy sales were up 6.6% to $3 billion thanks to favorable currency exchange rates. Otherwise, retail pharmacy international sales were down 2.1%.

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