December 6, 2017 / 12:22 PM / 11 days ago

Walgreens to buy 40 pct stake in Chinese pharmacy chain

Dec 6 (Reuters) - Walgreens Boots Alliance Inc said on Wednesday it would buy a 40 percent minority stake in China National Accord Medicines Corp Ltd’s subsidiary Sinopharm Holding GuoDa Drugstores Co Ltd.

The U.S. drugstore chain operator said it would invest 2.767 billion yuan (about $416 million) to acquire the stake.

GuoDa operates and franchises retail pharmacies across China.

Reporting by Gayathree Ganesan in Bengaluru; Editing by Sriraj Kalluvila

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