Stock Monitor: China Jo-Jo Drugstores Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors issued a free report on Walgreens Boots Alliance, Inc. (NASDAQ: WBA) ("WBA"), which is readily accessible upon registration at www.active-investors.com/registration-sg/'symbol=WBA as the Company's latest news hit the wire. On December 06, 2017, the Company announced that it has acquired 40% stake in Sinopharm Holding Guoda Drugstores Co., Ltd. ("GuoDa"), the largest retail pharmacy chain in China and a subsidiary of state-owned China National Accord Medicines Corporation Ltd ("Sinopharm Accord"). This is the biggest investment by WBA in China and allows it to expand its global footprint and own a slice of the expanding and lucrative retail pharmacy sector in China. Sign up now for our free research reports at:
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Active-Investors.com is currently working on the research report for China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD), which also belongs to the Services sector as the Company Walgreens Boots Alliance. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Walgreens Boots Alliance most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/'symbol=WBA
Details of the transaction
WBA issued a public tender for acquiring stake in GuoDa. After fulfilling all terms of the seller, WBA invested RMB2.767 billion (approximately $416 million) and acquired 40% stake in GuoDa. WBA has also reached an agreement with Sinopharm Accord to become an investor of GuoDa. The transaction is subject to receiving approvals from regulators and other closing conditions. WBA plans to treat this as an equity investment post the completion of the transaction.
GuoDa has been pushing for expansion across China as part of the country's ongoing emphasis on healthcare reforms and expanding its retail network. WBA believes that it can partner with GuoDa and support the latter company in this mission by leveraging WBA's vast global experience and expertise in the retail pharmacy business.
Commenting on the acquisition, Stefano Pessina, Executive Vice Chairman and CEO, said:
"We are very pleased to become a strategic investor in GuoDa. It is China's leading pharmacy chain and we believe that we can positively contribute to its continued successful development with our global pharmacy expertise. We have had a presence in China for around 10 years, initially through Alliance Boots, and we are excited about the opportunity to further invest in the country's fast-growing retail pharmacy sector."
The deal come at a very opportune time especially when the Chinese government has been encouraging private investments and equity from other countries in its healthcare industry. As per an estimate by the US Department of Commerce, Chinese expenditure on healthcare is expected to reach $1.1 trillion by 2020.
About GuoDa
GuoDa was established in March 2004 and headquartered in Shanghai, China. It is a national pharmacy chain and a subsidiary and retail pharmacy platform of China National Pharmaceutical Group Corporation's (CNPGC) also known as Sinopharm.
Sinopharm is a state-owned enterprise and the largest Chinese medical and healthcare group engaged in the distribution, retail, scientific research, and manufacture of healthcare related products.
GuoDa operates over 3,500 retail pharmacy stores across 70 cities and has over 20,000 employees. GuoDa was merged with China National Accord Medicines Corporation Ltd. (Sinopharm Accord) in 2016. GuoDa's business goals is to expand the pharmaceutical and healthcare business of the state-owned Sinopharm across China and in-line with the country's healthcare reforms.
About Walgreens Boots Alliance, Inc.
Deerfield, Illinois based WBA is the first global pharmacy-led, health, and wellbeing enterprise with a 100-year history in the healthcare and pharmacy business. The Company is the largest retail pharmacy, health, and daily living destination across US and Europe. As on 31 August 2017, WBA's global network consists of 13,200+ stores in 11+ countries and a global pharmaceutical wholesale and distribution network of 390+ distribution centers delivering to more than 230,000 pharmacies, doctors, health centers, and hospitals in over 20 countries. WBA is one of the world's largest purchasers of prescription drugs and many other health and wellbeing products.
The Company has presence in over 25 countries and employs more than 385,000 people. WBA's portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as health and beauty product brands like No7, Soap & Glory, Liz Earle, Sleek MakeUP, and Botanics.
Stock Performance Snapshot
December 07, 2017 - At Thursday's closing bell, Walgreens Boots Alliance's stock dropped 2.03%, ending the trading session at $69.61.
Volume traded for the day: 8.17 million shares, which was above the 3-month average volume of 8.06 million shares.
Stock performance in the last month - up 2.49%
After yesterday's close, Walgreens Boots Alliance's market cap was at $69.46 billion.
Price to Earnings (P/E) ratio was at 18.43.
The stock has a dividend yield of 2.30%.
The stock is part of the Services sector, categorized under the Drug Stores industry. This sector was up 0.4% at the end of the session.
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