Walgreens Boots Alliance inks deal with McKesson Corporation
Category: #health  By Saipriya Iyer  Date: 2019-12-14
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Walgreens Boots Alliance inks deal with McKesson Corporation

Walgreens Boots Alliance, an American holding company headquartered in Illinois inked a deal with Mckesson Corporation, a German healthcare and pharmaceutical company to transpire a joint venture (JV) which will bolster their respective pharmaceutical wholesale businesses in Germany, GEHE Pharma Handel and Alliance Healthcare Deutschland. Reportedly, the controlling equity interest will be allocated in a 70:30 ratio, with WBA holding 70% ownership stake and Mckesson holding 30% stake in the joint venture.

The joint venture is set to provide seamless customer experience and spur the ability to prove their mettle through operational excellence and new services and eventually boost patient-centric solutions. Notably, the transaction bars any other WBA or McKesson businesses outside the realm of German wholesale activities. That said, the Joint venture will fuel greater economies of scale, provide efficient distribution solutions, and bolster the competitiveness of the German pharmaceutical market.

WBA’s Co-chief Operating Officer, Ornella Barra noted that the joint venture will exemplify a road map of long-term success of both businesses. Barra went on to signify the importance of creating a sustainable company that will provide seamless experience to customers and the German healthcare system.

Chairman of Mckesson Europe’s management board Kevin Kettler echoed similar lines of WBA’s Co-chief Operating Officer and said he was exalted to team up with Walgreens Boots Alliance and that the partnership would be a good omen for pharmaceutical distribution in the Germany market. Reportedly, he was quoted saying the transaction would provide a unique opportunity to fuel operational success in a complex ambience.

Through the prism of regulatory approvals, this joint venture is subject to approval by the customary authorities and merger clearance. Reportedly, both companies will have a proportional representation on the supervisory board of the joint venture. For the record, financial terms of the transaction are yet to be disclosed.
 

Reference:

https://www.walgreensbootsalliance.com/newsroom/news/walgreens-boots-alliance-and-mckesson-to-create-german-wholesale-joint-venture.htm



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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