U.K.-based health and beauty group Alliance Boots said Sunday it will buy a 12 percent stake in Nanjing Pharmaceutical Company Limited for 560 million renminbi, or $88.49 million.
Alliance Boots said it will become the second-largest shareholder in Nanjing Pharmaceutical and have board and operational management representation. The Chinese company is China's fifth-largest pharmaceutical wholesaler in China with sales of 20 billion renminbi, or $3.16 billion, Alliance Boots said.
Alliance Boots first entered the Chinese pharmaceutical distribution market in 2008 through its Guangzhou Pharmaceuticals Corporation joint venture.
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @victoriastevens; Interview by @ktauer; Styled by @thealexbadia)