[Image courtesy of www.allianceboots.com]
Earlier this week, leading British pharmacy-led health and beauty group and CBI member Alliance Boots announced that it had signed a letter of intent with Nanjing Pharmaceutical Group Limited to acquire a stake in the Chinese company.
Nanjing Pharmaceutical Group Limited is the largest shareholder in Nanjing Pharmaceutical Company Limited, one of the leading pharmaceutical wholesalers in China.
According to a filing by Nanjing Pharmaceutical Group to the Shanghai Stock Exchange, the planned cooperation between the two companies will help Nanjing Pharmaceutical Company Limited further develop its innovative capabilities and become a leading pharmaceutical retailer.
Future steps taken by Alliance Boots and Nanjing Pharmaceutical Group Limited following the letter of intent will be subject to regulatory and government approval in China. Both companies believe their cooperation will make a significant contribution to the planned healthcare reforms in China over the next decade.
Please click here to read the press release by Alliance Boots and here for further media coverage.
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Posted by: Account Deleted | 28 October 2011 at 09:05