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news.Beijing Med-Pharm has announced that Alliance BMP, a UK-based investment vehicle 80% owned by Alliance Boots, and 20% owned by Beijing Med-Pharm, has completed its acquisition of a 50% stake in Guangzhou Pharmaceuticals, one of the largest pharmaceutical wholesalers in China.
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The transaction involved a total capital investment of $74.6 million, in cash paid to Guangzhou Pharmaceuticals (GP Corp.) in exchange for a 50% ownership interest in GP Corp. Alliance BMP holds four of the eight GP Corp. board seats.
David Gao, CEO of Beijing Med-Pharm, said: “We believe this accretive transaction helps to solidify our distribution presence in Guangzhou, which is one of the most exciting markets for healthcare products in Southern China.”