Retail pharmacy giants Walgreens Boots Alliance is forming a joint venture with Irving-based McKesson Corp. to combine their pharmaceutical wholesale businesses in Germany.
WBA will control 70 percent of the venture and McKesson the remaining 30. The combination is limited to the German wholesale activity of the two companies and won’t impact any other operations.
“Combining our wholesale operations is the right decision to secure the long-term success of both businesses,” said Ornella Barra, Co-Chief Operating Officer of WBA via release. “This is a strategic step that will offer benefits for all. 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 via release. “This transaction provides a unique opportunity to drive operational success in a complex environment.”