Walgreens Boots Alliance and McKesson to create JV

Walgreens Boots Alliance and McKesson to create JV

THE WHAT? Walgreens Boots Alliance and McKesson Corporation have signed an agreement to create a joint venture that will combine their respective pharmaceutical wholesale business in Germany.

THE DETAILS WBA will own a 70 percent interest in the new entity, with McKesson taking the remaining 30 percent stake.

“Combining our wholesale operations is the right decision to secure the long-term success of both businesses. This is a strategic step that will offer benefits for all,” said Ornella Barra, Co-Chief Operating Officer, WBA. “We are creating a sustainable company to drive success for our customers and the German healthcare system.”

“We are excited to join forces with Walgreens Boots Alliance, and through this strategic partnership we are securing the future of pharmaceutical distribution in the German market,” says Kevin Kettler, chairman of McKesson Europe’s management board, “This transaction provides a unique opportunity to drive operational success in a complex environment.”

THE WHY? The new venture is expected to enhance the ability to compete and deliver high customer satisfaction through new services and operational excellence, improve efficiency and drive greater economies of scale.

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